Statistics reveal that most of the homeowners pay around $ 1,100 each year for home insurance. You need to figure out how you can trim the home insurance costs down so that you don’t have to pay high premiums each month. Looking for a budget-friendly price while still getting ample protection should be your objective. You can achieve this through the following.
Combine your auto and home coverage
Instead of paying two companies for home insurance and auto insurance, you can save more if you worked with one insurance company. Most of the reputable insurers are known to give customers that have multiple policies reasonable discounts. When you combine different form of insurance, you can even save up 20% on the rate. The exact amount you save, however, depends on the insurance company you choose.
Secure your home
Though homeowners insurance is essential, you have to upgrade your security to reduce the chances of misfortunes from happening. An insurance company calculates the rate by looking at how susceptible your home is to threats like fires, burglary, or even storms. If you want to qualify for more affordable prices, you need to take extra security measures.
Before applying for home insurance, consider upgrading some of your outdated systems such as electrical and plumbing appliances. Think of adding features that are more secure such as an impact-resistant roof, storm shutters, or a deadbolt door to prevent a burglary. This can help you get cheaper rates since the insurance company will not view your home as a high risk.
You should, however, beware of the fact that some of the home improvements are going to be expensive. Try to confirm with your insurance company before making the necessary changes to find out how much you can get as a discount.
Look for more discount opportunities
Every insurance company is different, and some of them are more lenient than others. You can qualify for some extra perks if you can meet particular criteria that your insurance company sets. For instance, most of the insurance companies offer discounts to people who recently purchased their homes. Others provide great deals to customers who pay their premiums through automatic bank payments. The more discount opportunities you look for, the easier it is to save.
Work on your credit score
Your credit rating affects a lot of things in life, including home insurance. Most of the insurance companies look at your credit score in determining your rates. If you don’t have a very high score, you need to work on boosting it so that you can get more affordable prices. Start by clearing your credit card balances which are near the limits.
Do not settle for the first insurance company you come across on the internet. Take your time to compare what each company offers. You can get fast homeowners insurance quotes from online sources so that you choose the best insurer that can help you save. Look for one that provides loyalty discounts to customers.