Top 12 Ways To Save Money On Home Insurance

Homeowners insurance is considered one of the most expensive fees we have to pay for that we hope to never use. Owning a home seems your biggest investment. So, it is necessary to maintain your investment’s value by spending money on upgrades and insurance. Are you looking for the best solution to upgrade your home with not having to worry about home insurance costs? From the site Vkool, and I made this article to show you 12 simple and easy ways to save money on home insurance.

12 Money-Saving Ideas To Pay Less For Home Insurance

1. Consider Home Insurance Costs Before Buying

If you want to pay less for your home insurance, you need to purchase a house that is close to a fire hydrant or that is in a community, where has a professional department rather than a volunteer fire department. In addition, your home insurance can also be cheaper if your house’s plumbing, electrical and heating systems are under 10 year olds. Furthermore, if you live in the East, you should consider a brick home because it is more wind resistant. In case you live in an earthquake-prone area, you should look for a wooden frame house for the reason that it has ability to withstand this type of disaster. Moreover, choosing wisely can cut your premiums by 5 % to 15 %.

Learn more: 24 Tips On How To Save Money Fast, Easily And Effectively

2. Look For Private Home Insurance

Look For Private Home Insurance

If you live in a high-risk area (areas relating to crime, fires, and coastal storms) and if you have purchased home insurance through a government plan, you need to buy a private home insurance. Before buying a private insurance, you need to check with insurance agents or company representatives or contact your state department of insurance for companies, which may be interested in your business. You can find that there are easy steps you can take that will allow you to purchase insurance at a lower price in the private market.

There are a lot of other ways to save money on home insurance, so if you want to know more, Cheap Insurance for Your Home is the best guide you should read.

3. Regularly Review The Limits In Your Policy

Regularly review the limits in your policy

Maybe you want your home insurance policy to cover all major purchases or additions to your house. Nevertheless, you do not want to spend money on home insurance coverage you do not need. If your house is no longer worth a huge amount of money you paid for it, you will want to reduce or even cancel some additions to your house. One of good ways to save money on home insurance is to regularly reassess your insurance needs at least one time each year.

4. Stay With The Same Insurer

Stay with the same insurer

One of ways to save money on home insurance is to stay with the same insurer. It means that if you have kept your home insurance coverage with an insurance company for several years, probably you will receive a special discount for becoming a long-term policyholder. In addition, a lot of insurers will lower their premiums by 5 % if you stay with them from 3 to 5 years and by 10 %, if you remain a policyholder for about 6 years or more. However, you should make certain to sometimes compare this price with the price of other home insurance policies.

There are a lot of other ways to save money on home insurance, so if you want to know more, Cheap Insurance for Your Home is the best guide you should read.

5. Maintain A Good Credit Record

maintain a good credit record review

Maintaining a good credit record or establishing a solid credit history will help cut your home insurance costs. Insurers are using the credit information of their clients to price home insurance policies. If you want to protect your credit standing, you need to pay your bills on time, you need to keep your credit balances as low as possible, and you do not obtain more credit than you need. In addition, you have to check your credit record regularly and have any error corrected promptly in order that your record will remain accurate.

Learn more: Credit Repair Magic course – this course will teach you how to increase their credit score easily

6. Seek Out Other Discounts

Seek out other discounts

Currently, there are a lot of companies that are offering several types of discounts; however, they do not all offerthe same amount of discount or the same discount in all nations. For instance, working people stay at home less than retired people who are less likely to be burglarized and who can spot fires sooner. In addition, retired people have more time to maintain their homes. If you are at least 55 year olds and retired, you can qualify for an amount of discount up to 10 % at some companies. Furthermore, someprofessional associations and employers administer group insurance programs, which can offer a better deal than you may have elsewhere.

Many discounts are available beyond installing disaster-proofing and safety features. For instance:

  • Marital status discounts
  • Multi-policy discounts
  • Claim-free discounts
  • Senior citizen discounts
  • Nonsmoker discounts

You should call for your provider to ask other discounts you can get. In addition, there are multiple home insurance discounts, which you may not know about. Moreover, what you do not know could cost you. You should ask for common discounts such as:

  • Safety features and home security: security systems, storm shutters, and fire-retardant roofing may help you lower your home insurance premium.
  • Not smoking: a lot of insurers charge lower rates to smoke-free households.
  • Senior and loyalty discounts: almost insurers offer discounts to and long-term customers and seniors.

There are a lot of other ways to save money on home insurance, so if you want to know more, Cheap Insurance for Your Home is the best guide you should read.

7. Improve Your Home Security

Improve your home security

One of other ways to save money on home insurance is to improve your home security. You may get an amount of discount at least 5 % for a burglar alarm, smoke detector, or dead bolt locks. Some of insurance companies can lower your premium by 15 to 20 % if you install or setup a sophisticated sprinkler system or a burglar and fire alarm, which rings at fire station, the police station, or other monitoring stations. These systems are not cheap and they are not every system qualifies for a discount. Therefore, before buying such a system, you should find out what kind your insurers recommend, how much the device will cost as well as how much you can save on premiums.

Learn more: Useful Home Decoration Tips For A Warm And Beautiful House

8. Buy Insurance Policies From The Same Insurer

buy your home-health and car policies from the same insurer review

Many companies, which sell homeowners, car and liability coverage will take from 5 % to 15 % off your premium if you purchase 2 or more policies from them. However, you should make certain this combined price is lower than purchasing the different coverage from different companies.

There are a lot of other ways to save money on home insurance, so if you want to know more, Cheap Insurance for Your Home is the best guide you should read.

9. Raise Your Deductible

Raise Your Deductible

Do you know about deductibles? Deductibles are the amount of money you will have to pay toward a loss before your home insurance companies start to pay a claim, in term of your policy. If you raise your deductible, you will save money on your premiums. Currently, most home insurance companies recommend their clients to choose a deductible of at least $500. If you are able to increase your deductible up to $1,000, you will save about 25 %. For example, if you raise your deductible to:

  • $ 500 – you will save up to 12 percent
  • $1,000 – you will save up to 24 percent
  • $2,500 – you will save up to 30 percent
  • $5,000 – you will save up to 37 percent

10. Shop Around

 shop around review

Shopping around will take some time, but it may save you a good sum of money. For example, you can ask your friends, contact your state insurance depart, or check the Yellow Pages. In addition, you can access to the website National Association of Insurance Commissioners that has full information to assist you in choosing an insurer in your country, including complaints. Another way to shop around is to checkinsurance agents, consumer guides, companies or some online insurance quote services. This way will give you an idea of price ranges and it will also tell you which companies offer the lowest prices.

There are a lot of other ways to save money on home insurance, so if you want to know more, Cheap Insurance for Your Home is the best guide you should read.

11. New Is Better

new is better review

Insurers truly like newer homes. That is because it is less likely something will go wrong with the plumbing, electrical, and heating systems. Additionally, the structure itself will be in better shape. Therefore, insurers always offer discounts from 8% to 15% if your house is new.

12. Stop Smoking

stop smoking review

Do you know smoking accounts for over 23,000 residential fires a year? That is why almost insurers offer a reduction of premiums if all residents in a house do not smoke.

Learn more: Painless Stop Smoking Cure book – this book shows you the best way to stop smoking easily and quickly.

To see other articles about money saving ideas, go to our main Lifestyle page.

After reading my overview of 12 ways to save money on home insurance, I hope that it helps you choose the best money-saving way for your home insurance. This post is part of a series about tips and advice on saving money. Got a question? Need answers? Leave a comment below. Now are you ready to try using some of these ways to save money on home insurance?

There are a lot of other ways to save money on home insurance, so if you want to know more, Cheap Insurance for Your Home is the best guide you should read.

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