5 Ways to Reduce Your Homeowners Insurance
Every homeowner wants to save money on their insurance premium without giving up coverage to protect their home. Your homeowners insurance premium can vary hundreds if not thousands of dollars from company to company. Here are five tips to keep in mind as you look for the best value for protecting your home.
1. Get Quotes From Multiple Providers
The beauty of an independent insurance agent is that they have multiple providers to choose from, each with strengths and weaknesses. They are motivated to find you the best deal since they are not tied to a one-option provider. It’s smart to let your trusted independent insurance agent work for you.
2. Make Your Home Safer
As you can imagine, homeowners that do a few things around their house to protect their house and family from accidents, theft, and losses have lower rates. A little common sense and fixing up can qualify for sizeable discounts. Here are just a few ideas:
• Secure doors and windows with dead bolts and strong locks.
• Have a security system installed with a monitoring service.
• Keep your smoke detectors up to date.
3. Bundle Policies with the Same Insurer
Almost every company offers a discount if you combine two or more policies—auto, homeowners, life, business, etc. Combining auto insurance and homeowners/renters insurance are the most common.
4. Maintain Good Credit
Most insurance companies have been using a customer’s credit score as a variable in determining their rates for years. It’s important to pay your bills on time, keep your credit debt as low as possible, and keep an eye on your credit report. Use your free annual credit report to make sure there are not any derogatory records on your report by mistake.
5. It Pays to Stay
Insurance companies know it costs more to gain a new customer than to keep one. So, they reward their customers, usually at the three and five year mark with discounts for being a loyal customer. Inflation may raise prices, but a customer loyalty discount for staying with the same company can easily offset that.
Call us so we can help you find the most affordable deal on homeowners and renters insurance that doesn’t compromise on coverage.