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Easy Steps To Lower Your Homeowner’s Insurance Rates

Easy Steps To Lower Your Homeowner’s Insurance Rates


You’ve just made an investment for yourself, your family, and your finances – you bought a house! You put in hard work to save up the money, and it has finally paid off. Now, it is time to invest in a strong, affordable homeowner’s insurance policy to protect what you’ve worked so hard for.


Sometimes it is hard to imagine affording a policy on top of purchasing a home, but it is most important to protect your home from unforeseen instances. These tips will help you find an insurance policy that is affordable for you.


First, be smart in managing your deductibles. Research the area you live in and see if the insurance companies around you have one deductible or separate split deductibles for different kinds of damage. If you purchase a policy with only one deductible, do whatever you can to increase that deductible. Although you will be paying more right away, your insurance will pay out higher claims, saving you on your premiums.


If you have multiple deductibles – say one for windstorm damage and one for hail damage, research which damages are more likely to occur in your area. Increase your deductibles strategically by category to ensure more coverage for the areas that matter.


Secondly, loyalty to one insurer over a period of time often accounts for a reward system. Many people who stick with the same insurance for a long period of time are able to reap loyalty rewards. Choose an insurance company that will reward you for not switching! You can also begin to bundle your insurance policies under that same insurer, which will likely save you money through discounts.


Third, work to improve and maintain good credit. Insurance policies are largely priced based on credit history and report. If you can improve your credit over time, your payments and premiums may even go down. Check your credit regularly and make any amends to errors right away. Having good credit is the key to making larger purchases such as buying homes and insurance, and so it’s a good idea to plan purchases accordingly. It is worth putting in the time and effort to achieving good credit when purchasing a home, that way you can also obtain affordable insurance.


Lastly, think of ways to make your home more secure and safe against theft and natural disasters. When working with an insurance agent, you can achieve lower rates if they are able to see that there is lower risk involved. If your home has security systems, extra protection against natural disasters like storm shutters, or even just making sure your smoke alarms are in good working condition, it is possible to lower your rates. Check with different insurance providers on what kinds of discounts they are able to provide with small preventative measures such as installing special locks or a burglar alarm.

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