Having a homeowners insurance policy isn't just a good idea — it's most likely required by your mortgage company. Still, nobody wants to spend more on insurance than they need to. The good news is that there are plenty of ways to go about saving on your monthly home insurance payment without necessarily skimping on your coverage in the process.
Install a Security System
If you've been on the fence about shelling out the money for a security system in your home, perhaps the fact that most homeowners insurance companies offer a discount for homeowners with security systems will sway your decision. The amount you spend on installing a security system can easily be offset by insurance discounts, and you'll get to enjoy the added peace of mind that comes with having increased home security.
Consider a Metal Roof
Finding ways to make your home more resistant to damage can also save you on your insurance costs. Consider, for example, replacing your traditional asphalt roof with a metal roof, which is much more durable against high winds and hail. As a result, your home will be considered a lower claim risk, which may in turn result in your home insurance company offering you a discount on your premium.
Combine With Other Policies
Do you have separate home and auto insurance companies? If so, it may be time to look into switching so that your policies are covered by the same company. Many insurance companies offer small discounts for "bundling" multiple policies together. These can apply to home insurance, auto insurance, property insurance, and many other types of coverage — and even small savings can add up quickly!
Increase Your Deductible
If you've exhausted all your options when it comes to available discounts and are still looking for a way to pay less each month, you might consider increasing your deductible slightly. Yes, this will increase the total amount you have to pay out of pocket if you need to make a claim, but it will also reduce your monthly payments. Just make sure that you can comfortably afford whatever deductible amount you decide upon. Most insurance companies offer a wide range of deductible options for you to choose from.
These are just a few of the lesser-known ways homeowners can save money on their home insurance without reducing the quality of their coverage, so be sure to consider which of these may apply best to your current situation! For more information, visit websites like http://www.statefundhomeinsurance.com.
Share16 March 2018
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