Aside from your own life, your house needs to be insured, as well. According to statistics, a home in the United States is being robbed every 15 seconds. Doesn’t this tell you something? It’s necessary to have home security, but having insurance settles your future expenses for you.
Here are 10 easy ways to save on Homeowners Insurance:
Check credit rating
The first thing insurance companies check is your credit rating. Make sure you pay your dues on time and you keep an extensive record. Many companies give discounts for a good credit rating.
This is a neat trick that some people actually don’t take advantage of. If you raised your deductible by $250, there is already a 12% reduction in premium payments. What more if you raised it by double? Just make sure you don’t bite off more than you can chew.
Insure the home, not the land
Always check the policy if your house and items are the only ones insured and not the land. Some people commit the mistake of including their land’s value to their premiums. This would only increase your payments.
Check property annually
Yearly check the value of your household items as they tend to depreciate in time. For example, that living room couch used to have a $5000 value. But after a few years, it won’t have that much value. Furniture that has less value means less insurance payment.
Some business-affiliated insurance companies give discounts to employees who have been in their company for three years or more. The longer you’ve been with them, the higher the discounts on your premium they can give.
Auto payment saves
Late payments always have a surcharge, thus always pay your dues on time. Also, if you can program your account to pay your insurance automatically, it would save you a lot of time, effort, and even money. Paying by mail actually adds a few dollars to your total fees.
Check for discounts
There are a lot of discounts that you can avail, from protective devices to inflation protection. Make sure to ask your agent about all possible discounts that you can use.
Keep your house safe
As mentioned above, insurance companies give discounts to safer homes. If you have deadbolts, extra locks, and a home security system installed, then these companies will love to give you discounts.
Multiple policies from one company
Do you have auto insurance? How about life insurance? If you take all your insurances from the same company, this shows your loyalty to their services. In return, they might just give you a hefty discount for your home insurance.
Lastly, a new house is always cheaper to insure because there is less probability of something to go wrong. A new house is less vulnerable to weather disasters and household problems. Insurance companies give 8%-15% discount to new homes.
Getting your home insured is important, especially during these days. You never know when a natural disaster or, heaven-forbid, a burglary might happen. It’s not that you are anticipating danger, but you’re preparing for the worst.