5 Amazingly Easy Ways To Save Money On Your Home

Homeowners insurance is definitely a vital expense of home ownership. But as important as it is, it doesn’t however imply that homeowners must pay a lot of money so as to have their homes covered against theft and natural disasters. In fact, there are several ways you can save money on your home insurance at the same time ensuring your home is fully protected. Here are 5 amazingly easy ways you can save money on your home insurance. 

1. Shop around 

While shopping around for the best deal can undeniably take some time, it can nevertheless help you save a significant amount of money on your home insurance. Find as many homeowners insurance companies in your state as possible, and then compare their policy coverage lines alongside their respective costs. However, it is prudent to note that the cheapest policy doesn’t necessarily offer the best value. As such, look for a policy that offers coverage for natural disasters that are likely to occur in your area, such as floods, earthquakes among other natural disasters. Once you have selected a policy that best suits your needs, negotiate with the provider until you get the lowest rate possible. 

2. Raise your deductible 

Deductible simply means the amount of money a homeowner is required to pay toward a loss before their insurance company begins to pay a claim(depending on the terms of their policy). Basically, homeowners with a higher deductible can save more money on their premiums. For instance, increasing your deductible from the minimum $ 500 to about $ 1,000 can help lower your premium thus enabling you save money on your home insurance in the long-run. 

3. Look at your credit report

Having a good credit record can help lower the cost of your home insurance. In most states, insurance companies tend to analyze homeowners’ credit reports before quoting a rate for them. As a matter of fact, a good credit report can help reward you with lower premiums. Some of the things that you should do to ensure you have a good credit record include paying your bills on time and refraining from obtaining more credit than you actually need. 

4. Ensure your home is disaster resistant 

Making a home more disaster resistant can surprisingly help homeowners save on their home insurance. In most cases, insurance companies tend to reward homeowners whose homes are more disaster resistant with impressive discounts. This is precisely because such homes are less vulnerable to natural disasters as well as theft, thus significantly reducing chances of homeowners filing a claim. To ensure your home is more disaster resistant, make sure it is retrofitted to make it capable of withstanding earthquakes and other natural calamities. Moreover, modernize your plumbing, heating and electrical systems to lower the risk of water and fire damage.

5. Stick with the same insurer

Most insurance companies across several states offer special discounts to their clients for being long-term policyholders. Therefore, stick with the same insurance company in order to benefit from such special discounts, thus helping you pay less for your home insurance in the long-run. 

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