The ability to save money on your home insurance means that you will have more money in your monthly budget for the things you really enjoy. Best of all, accomplishing this task can be rather simple when you choose to use the five tips outlined below.
Tip #1: Bundle With Auto Insurance
Most homeowners will need both home and auto insurance. Unfortunately, many homeowners are actually paying more than they need to for both of these insurance products simply because they chose to purchase them separately. Bundling your home and auto insurance allows you to qualify for a multi-policy discount that will ultimately lower the cost of both policies without the need for you to make any changes to the coverage you receive.
Tip #2: Consult An Insurance Agent
It is quite common for homeowners to pay more than they need to for home insurance simply because they are carrying more coverage than they really need. This mistake is often the result of a poor evaluation of their insurance needs. You can avoid making this same mistake yourself by taking the time to consult an insurance agent prior to purchasing your homeowners' insurance policy. This agent will help you properly evaluate your coverage needs and eliminate any unnecessary coverage from your policy. This can save you a significant amount of money if you are currently carrying coverage you do not truly need.
Tip #3: Install An Alarm
An alarm system is a great way to deter criminals from targeting your home. Not only does this help to keep you, your family, and your possessions safe, but it also helps to reduce the risk that you will file an insurance claim resulting from a crime on your property. As a result, insurance companies routinely offer home insurance discounts to homeowners who choose to install an alarm system in their homes.
Tip #4: Raise Your Deductible
Your deductible represents how much you need to pay out of your own pocket when filing a claim against your homeowners' insurance. The higher this deductible is, the lower your insurance premiums will typically be. Best of all, while a higher deductible may mean a larger out-of-pocket expense when filing an insurance claim, the money that you save from month to month will almost always outweigh the increase in your deductible over the course of time.
Tip #5: Install Storm Shutters
Just as an alarm system helps to reduce your risk of filing a claim by reducing your risk of crime-related damage, storm shutters reduce this risk by helping to protect your home from weather-related damage. Consequently, you could qualify for a substantial discount on your homeowners' insurance when choosing to make this home improvement.
Reach out to a company like Oliveira Insurance Agency to learn more.