Home insurance premiums are an expense that every homeowner must pay, but not everyone pays the same amount. While premiums are based on many factors, some homeowners pay less because they find ways to reduce their premiums. Use these strategies to save on your home insurance costs.
Look at Quotes with an Independent Agent
No matter what home insurance coverage you need, one of the best ways to save on a policy is to compare quote options with an independent insurance agent. A home insurance quote shows you the coverages and premiums that will come with a particular policy, and an independent agent can get multiple quotes from different insurers for you. This makes it easy to see how much each policy will cost before choosing the one that offers the protection you need at the lowest available price.
While you could request quotes on your own, you should go through the quote-comparing process with an agent because of the expertise they can lend. Cost isn't the only item that should be compared when looking at quotes; you must consider the coverages that each policy offers. An agent has the expertise needed to help you assess different coverages.
Upgrade Your Home with Security Systems
Security systems help prevent thefts, and reduced risk of theft lowers the likelihood that you'll need to file a home insurance claim for burglary. As a result, your insurance company will likely provide a discount on some home insurance coverage premiums if you upgrade your home's security systems.
Specifically, you might get a discount on your structural coverage premium and your personal property coverage premium. The former coverage protects against damage to your home, such as the damage that a burglar might cause during a break-in. The latter coverage protects your belongings, which a burglar might steal.
In order to get a discount, you might have to install a security upgrade that meets an insurer's specific requirements. Therefore, you should ask your insurance provider what systems they offer discounts for before you install anything.
Check for Other Available Discounts
In addition to any security-related premium deductions you get, you might also be able to qualify for other discounts. Insurance providers offer discounts for everything from remaining a loyal customer and not filing claims to not smoking and maintaining a good credit score. Your insurance agent can help you determine what discounts you might qualify for.
If you want to reevaluate your options, contact homeowners insurance providers.