5 Ways to Reduce Your Home Insurance Premiums

by Leon on August 1, 2014

home insurance tipsSomething that you definitely need in order to protect your home in case some type of damage occurs is home insurance. But if you’re already on a pretty tight budget while trying to make ends meet, it’s understandable why you’d be looking for some proven ways to reduce your premiums.

In fact, that’s what this article is all about. If you’d like to know how to make your monthly or annually home insurance payments decrease, here are five ways to do just that.

Shop around. One of the best ways to find a good deal on any kind of insurance is to spend some time looking at what various insurance companies have to offer. That way, you can get great coverage at a really good price. Thanks to the internet, a thorough search can be done in a matter of moments. All you have to do is go to your favorite search engine and put “best insurance companies” along with the year in the search field. Some websites that can assist you include The Simple Dollar, Insure, and Reviews.

Bundle your coverage. If you already have car or health insurance with a particular insurance company, here’s something else that you should consider doing in order to get a lower rate: ask your insurance agent if they would be willing to give you a discount if you decide to take out a home insurance policy with them as well. More times than not, by bundling your service, you can get as much as a 15-20 percent discount.

Raise your deductible. If you’re on an extra tight budget, this is something else to consider. By opting to raise your deductible, you will automatically reduce your premiums. The good news is that your monthly (or annual) home insurance bills will be cheaper. The thing to keep in mind is that should you need to file a claim, your deductible will be significantly higher.

Boost your security. If you were to speak with someone who works at a company like Precision Promotional and Insurance Solutions about something else that you can do in order to reduce your home insurance premium, something that they might recommend is that you take certain measures to make your house more secure. By adding items like a house alarm and deadbolts on your front and back doors, your insurance company may be willing to give you up to a 15 percent discount.

Have good credit. Your credit history is the way to let creditors know that you make responsible financial decisions – that you pay your bills on time. So, if you have an impressive credit score, that’s one more way to lower your home insurance premiums. And what do you do if your credit score is less than stellar? Get a copy of your report, work on paying off your debts and correct any errors and notify your insurance company when your score improves. That should earn you some more points. For tips on additional tips on how to increase your credit rating, visit Quick and Dirty Tips and put “improve credit scores” in the search field.

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