Ultimate savings on home insurance can mount up

Friday, April 19, 2013

Most of us get caught up in living each day and forget to take advantage of cost-savings that are as available to us as they are anyone else. Homemakers can save on home insurance, too, by shopping wisely for insurance and making other prudent decisions. Sometimes it is a good idea to step back and see if we are securing ultimate savings on home insurance.

Consider the following six money-saving opportunities in home insurance:

1)      Increase deductibles. Everyone knows how deductibles can affect premiums, but not everyone knows how dramatic a difference higher deductibles can make on a premium. Doubling a minimum out-of-pocket figure can mean double-digit decreases in the premium.

2)      Buy a newer home rather than an older one. The difference in the mortgage could be significantly offset by the lower insurance premium that often is a feature of a newer home. Insurers like to bet newer homes will mean fewer claims than will older homes.

3)      Make the home secure. Installing a home security system, dead bolts, and smoke alarms can mean significant reductions in the premium for the home. The more sophisticated the security system, the greater the reduction usually. Ask an agent.

4)      Shop and stay. Homeowners are encouraged to shop around for ultimate savings on home insurance and, once satisfied with a company, stay with it. If a company is responsive and progressive, staying with it rather than skipping from company to company can mean loyalty discounts.

5)      Keep a good credit history. Some insurance companies partially predicate policy premiums on a homeowner’s credit history. If the history has been improved during the life of a policy, let a company know so it can reward the homeowner with a lower premium.

6)      Regularly review a policy. Things change. If the value of a home’s contents is reduced for one reason or another, let an agent know about. The portion of a policy insuring contents may be reduced as well.

Ultimate savings on home insurance ultimately are the responsibility of a homeowner. To learn more about insurance polices check out our home insurance article section today.  Click here and go get ’em

by Morgan Moran

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