3 Simple Ways To Save Money On Your Homeowners Insurance

30 December 2015 by Elijah Steward

When you purchase a house, especially if you have a mortgage, you may be required to also purchase mortgage insurance. Even if you aren't required to carry insurance on your home, it is always a good idea to be protected, which is why you should always have insurance. However, just because you should carry insurance doesn't mean that you need to break the bank to have it. Here are a couple simple things that you can do to save money on your homeowner's insurance.

1. Improve Your Home Security

When most people think about homeowners insurance they think about protection in the case of a natural disaster, house fire, or other damage to property. However, most policies will also cover damage and lost items from theft and vandalism. This means that the more you improve your home security, the less likely you are to file a claim with your insurance provider. Your insurance provider knows this and wants to reward you for keeping your home safe. In most cases, you can get a discounted monthly premium by proving that you have a working security system on your property and that you have taken steps to make your home safer.

2. Bundle Your Policies

Another great way to save money is to bundle your policies together. Most people carry multiple polices for insurance such auto insurance, home insurance, life insurance and so forth. When you group all of your policies together it usually will provide a discount for you. You will get a certain percentage off each policy that you have with a company, so the more policies you have, the more of a discount you get. Talk to your current provider, or check with other providers to see what kinds of insurance they offer and discounts for bundling your policies.

3. Upgrade Your Home

Newer homes are less likely to have problems with the structure. For instance, if your furnace and water heater are newer, you are less likely to have a gas leak or a house fire. This is why it is generally less expensive to insure a newer home than an older home. Thus, you can save money each month on your premium by simply making upgrades to your home to make it newer. A remodel could not only make your home nicer, but could save you money on insurance.

These are just a couple simple ways to save money on your insurance each month.     

Share

Search