Five Tips To Help You Save Money On Your Homeowners Insurance
If youre not sure if a company is reputable, you can check them out online at the AM Best website, or your states insurance commission site. At these sites youll find information about a companys financial stability, and information about what companies have had complaints registered against them. Click here for more info
Increase Your Deductible
Increasing your deductible is the next best way to save on your insurance policy.
A deductible is the amount of money you have to pay toward a claim before your insurance will pay. The higher your insurance deductible, the less youll have to pay in premiums.
Most insurers recommend you opt for a $500 deductible. If you increase you deductible to $1,000 you can save as much as 30 percent on your premiums. Just make sure you can cover you deductible in the event you need to make a claim.
Dont Insure Your House For The Sales Price Of The House
The sales price of your house included the price of the land the house sits on. This land is not at risk from fire, theft, acts of nature or other disasters, so you dont need to insure it. Just get enough insurance to cover the rebuilding costs of your house and any structure and landscaping you have on your property.
Strengthen You Home Security
If you have smoke detectors, dead bolt locks, window locks, a burglar alarm connected to the police department, or a fire extinguisher, you can get a 5 to 10 percent discount on you policy. Not only will you save money on these home security features, they may also save your life and the lives of your loved ones.
Bundle Your Homeowners and Auto Insurance Policies
When you purchase you home and auto insurance policies through the same company they will usually give you a 5 to 15 percent discount on your premiums. Just make sure the price they quote is less than the price you could get if you got your insurance through 2 different companies.
By following the tips above, its possible to cut you insurance bill in half.