3 Ways To Lower Your Homeowners Insurance Premium

29 January 2015 by Elijah Steward

Do you feel like you are paying too much for your homeowners insurance? If so, then there may be some ways that you can save with a few minor adjustments to your policy. Home insurance premiums can be a major annual expense, which is why it is important that you are comfortable with your monthly payments. To ensure you are able to find savings in your insurance policy, you may want to consider:

Increasing Your Deductible:

If you do not have a history of filing claims to use your coverage for home repairs then you may want to consider increasing the cost of your deductible. This increase may not impact you as much as you think, as you will only have to pay your deductible rate if you file a claim and need to use your insurance coverage. Though you may have a higher fee to pay when using your coverage, you will have smaller monthly premiums, which can save you money over time.

Reducing Your Coverage:

Is your land included in your insurance coverage? If so then this could mean you are paying more for your insurance just to keep the land of your property safe. This can sometimes be unnecessary, especially if your land does not have a history of caving or weather damages. Taking the value of your land off of your insurance policy can reduce the amount of coverage that you need, which can help lower your monthly insurance rate quite a bit.

Add Safety and Security Features in Your Home:

Adding a fire extinguisher, motion detection lights, and a smoke alarm in your home may not seem like much, but these features can help lower the cost of your insurance tremendously. Not only will these upgrades make your insurance cost lower, but they will help keep you safe so you can avoid having to file a claim, which can help you avoid the expense of your deductible fee. So, adding security and safety features doesn't have to cost you a great deal of money, as minor upgrades like these will be just enough to help save you money.

By taking advantage of these tips, you will likely be able to see a big price reduction from your insurance costs, which can help you afford your coverage without having to worry about insurance lapse do to none payments. So, if you feel that you are paying too much, definitely take these saving opportunities to mind before you pay for your next premium bill.

Share

Search