Would you like to save money on your home insurance? Did you know there are simple steps that you can take today to start saving on your home insurance. I am sharing the first three tips in this series to help you save on your home insurance. Let’s dive right in and get those savings started!
1. One Insurer, Multiple Policies
- Do you have an automobile insurance policy? If so, is it with the same insurance company that provides your homeowners insurance? If the answer’s no, you’re paying too much — for both policies. Almost every insurance company that sells homeowners insurance wants its policyholders to also buy auto insurance from that company. These insurers offer so-called multi-policy discounts. Usually, these discounts are at least 10% — and some insurers apply the discounts to both the auto and the homeowners/renters policy.
2. Raise Your Deductible
- 2. Raise Your Deductible — The deductible is the amount you pay before insurance kicks in if you have a claim. For example, if you have a $250 deductible and you file a claim for $1,000 in damage to your home, you pay the first $250 and your insurer pays the balance, $750. The lower the deductible you choose, the more you pay. Also, though, the higher deductible, the less you have to pay for your policy. Depending on the insurance company, you can save between 5% and 20% if you have a deductible of $1,000 to $5,000.
3. Newer is Better
- Insurers really like newer homes. That’s because it’s less likely something will go wrong with the electrical, heating and plumbing systems. In addition, the structure itself is in better shape. Insurers offer discounts of as much as 8% to 15% if your residence is new.
You are possibly wondering if you could get any of these savings and the answer is probably yes with a quick phone call to your agent you can start saving today. If you are interested in getting a quote to make sure you have the very best coverage at the most competitive price just click the button below and we would be happy to get a quote started for you!