Your home insurance is a valuable tool when it comes to securing your family’s financial future. Your home is a major investment that needs to be protected as much as possible. It can become quite expensive unless you learn to apply certain discounts and work to make your home insurance a little more affordable.
Here are some of the ways in which you can lower your home insurance premiums.
1. Bundling
Bundling your home, auto, and other policies may earn you a discount or two. Talk to your agent to find out what policies you can bundle together to lower your premiums. Basically, the more you can bundle, the more you can save.
2. Install Home Security Systems
Home security systems reduce your risk of burglary, vandalism, and loss due to fire or other malfunctions within the home. With a wide range of smart home devices, you can monitor almost every aspect of your home, from temperature to moisture control and energy efficiency.
3. Manage Your Deductible
Raising your deductible is one of the easiest ways to lower your monthly premium. Once you figure out how much you are willing to pay out of pocket, contact your insurer and adjust your deductible amount. A higher deductible isn’t always a bad thing, especially if it can save you money in the long run.
4. Make Your Home Disaster-Proof
Upgrading many of your home’s features and materials will make your home disaster-proof. Adding stronger windows or putting on a metal roof are two excellent examples. Disaster proofing your home is a must, especially if you live in areas where strong storms are prevalent.
5. Avoid Certain Breeds of Dogs
Certain breeds of dogs have been determined to be more dangerous or “at-risk” than others. Choose a breed of dog that doesn’t fall into this category. The breeds to avoid usually include Doberman’s, pit bulls, Akitas, and chows just to name a few.
6. Manage or Adjust Your Coverage
Adjust the amount of coverage you have. Know your property’s value and find out how much it would cost to rebuild, repair, or replace certain things and then adjust your coverage accordingly. Review your homeowners policy every few years or after you have experienced a life event, such as your children going off to college or the birth of a child.
7. Exclude Your Land When Determining Value
The value of your land is sometimes included in the value of your property. Instead of including the value of your land in the coverage amount, just insure your home and any buildings on your property. Unless you have prize-winning plants or your land holds significant historical value, you should be able to exclude its value without hindering the benefits of your policy.
8. Shop Around
Always shop around. Compare prices from several different insurers. Take the time to break down some of the policies to find out what you are getting for your money. Not every policy will provide you with what you need. Asking questions is a must.
Your home is one of the things you worry about the most. Having quality coverage at an affordable price is extremely important. Contact our agents at Locke Insurance Group today to find out how we can help you get the coverage you deserve at a price you can afford. Also, learn how we can help you lower your monthly home insurance premiums. Contact us today!