If you are a typical home owner, you are probably paying more than you need to for insurance protection. By using the suggestions listed below, you may be able to save hundreds of dollars each and every year on your policy…..
Checking prices from a number of companies is among the best, yet generally overlooked strategies to reduce insurance premiums.
When was the last time you compared quotes for homeowners insurance coverage? You might not know it, but premiums can vary significantly from one insurance company to another – as much as $1,000 or more.
You can review rates easily and quickly by visiting an insurance comparison website. To receive quotes from a variety of A-rated insurance companies all you have to do is to fill out a basic questionnaire.
By comparing quotes using a comparison website, and then switching providers, a number of homeowners have saved $500 to $1,000 on their insurance premium.
Virtually all home insurance providers offer you special discounts that directly lower the price of your insurance policy. As an example, you will get a deduction for possessing basic safety features in your home including burglar alarm systems, fire extinguishers, smoke alarms, deadbolts, and window locks. Depending upon the type and number of security systems you possess, you’ll save 5% to 20% on your policy.
Other Standard Discounts
A multi-policy discount for getting your automobile and homeowners insurance with the same insurer. Purchasing your home insurance and your auto insurance together will save you as much as 30%.
If nobody in your home smokes cigarettes, you can get a 5% to 10% non-smokers discount with most insurers, because they know that cigarette smoking causes tens of thousands of house fires per year.
If you are a senior, over 55 years old, nearly all insurance companies will give you a senior’s discount because they know that senior citizens spend more of their time at home, compared to younger adults, which enables them to protect their residence from fires, plumbing related leaks, and other destructive incidents.
Do not assume the insurer that you are working with will offer you discounts. Make sure you ask them to provide you all of the discounts you’re eligible to receive.
Raise Your Deductible
The deductible is the amount you have to pay toward every claim before your insurance company will pay. The higher you set the deductible, the lower your insurance premium is going to be.
The reason? Because the insurer knows you will be paying for smaller house repairs out of pocket rather than submitting an insurance claim.
By simply raising your insurance deductible from $500 to $1,000 you will save 15% to 25% on your insurance premium. Increasing it to $2,500 can help you save as much as 35%.
Check Your Credit Score Rating
A substandard credit rating might be a liability with regards to buying insurance. The worse your credit score, the greater your rate willl be, due to the fact insurers assume you’ll be a greater risk
You can either improve your credit rating, or simply choose an insurer that does not make use of credit scores as a factor in figuring out rates.
Where You Can Get The Best Quotes