1. Comparison shopping is a great way to save money. When insurance companies compete for your business; you win. Results have shown that consumers can save 20 % and more just by taking five minutes to compare rates from top rated insurance companies. Compare Homeowner Insurance Now has done all the research and due diligence to make sure that you can get all the facts you need here at our site.
2. Increase your deductible. (if you were at $250)
- $500 save up to 10 to 15% .
- $1,000 save up to 20 to 25%.
- $2,500 save up to 25 to 30%.
- $5,000 save up to 35 to 40%
Of course if you raise your deductible make sure you can afford this out of pocket cost, if there is a claim.
3. Purchasing home and auto policies from the same insurance carrier. Usually they will offer a 10% discount if you carry both auto and homeowners insurance.
4. Insure your home, not the land. In different parts of the country the land is actually more valuable than the house that sits on it. Even though your home and your belongings are at risk from fire, storms, vandalism and other risk, the land your house sits on is not. When deciding how much homeowners insurance you need to buy do not include the land.
5. Make your home safe, adding a security system, deadbolt locks, smoke detectors all can reduce the premiums.
6. Non-smokers discount. Smoking is the number one cause of home fire deaths in the United States.
7. Are you a Senior Citizen or retired; some insurance companies offer discounts.
8. Purchasing a new home can be less to insure since the electrical, plumbing, heating and air will be new compared to an older house in need of repairs.
9. Geographical location, depending where you live West Coast, Mountains, East Coast, Southeast, Midwest all have different types of risk and will effect amount you pay to insure your home.
10. Review your policy annually and update everything that was done is the past year. Items like jewelry, paintings that may need to be insured or even taken off your policy. Do you add an addition to your house?
12. Setup your payments to be paid electronically or thru escrow. Numerous companies now charge fees for mailed payments, having your payments automatically deducted can save additional money.
13. Check your credit rating. If your insurance company relies on credit scoring, they may use it in two ways:
- Underwriting — Deciding whether to issue you a new policy or to renew your existing policy.
- Rating — Deciding what price to charge you for your insurance by placing you into a specific rating "tier" or level.
Review your credit rating and it’s accuracy often.
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