Home insurance is an important part of keeping your home safe. While premiums are always supposed to be affordable, most homeowners actively look for ways to save on their monthly payments. Luckily, lowering your premiums is not only possible, but easy. Here are a few simple ways to keep those home insurance payments as low as possible.
Keep a Good Credit Score
Most insurance providers look at your credit score when determining your premium rate. The better the score, the better the premium will be. If you already have good credit, work to maintain that high score. If your credit needs a bit of work, don’t panic. Start paying down your debts, pay your bills on time, and avoid maxing out your credit cards. Before you know it, your score will go up and you’ll be ready to have those premiums reevaluated.
Maintain Multiple Policies With the Same Provider
You already have car insurance and might even have a life insurance policy through another company. Why not maximize your savings by moving your coverage to the same insurance provider? This will allow you to take advantage of the multi-policy discount, saving you between 10 and 25 percent on your monthly premiums.
Increase Your Deductible
The deductible is the amount you pay out-of-pocket whenever you file a home insurance claim. The lower the deductible is, the higher your monthly premium will be. Increasing your deductible will immediately lower your monthly premium payments. However, when doing so, make sure the deductible is an amount you can afford. The last thing you want to do is increase the deductible so much that you can’t afford to file a claim in the first place.
Make a Few Improvements
Certain home improvements can help lower your premium costs if they reduce the likelihood of you filing a claim. Installing a security system, upgrading your windows, or making the house more energy efficient by installing new appliances or solar panels can all result in a discounted insurance rate. Ask your agent for additional details to make sure you get the most out of your home improvements.
Want more information on how to save on your home insurance? Don’t hesitate to contact us today!