4 Tips For Saving Money On Home Insurance

Insurance Blog

When it comes to being a homeowner, there are many things you will need to do. Of course, you will need to work to ensure your property is well maintained on a routine basis. However, it's also critical for your financial well-being and peace of mind to obtain home insurance on your property. This can be an expensive cost to you, and it's ideal to be aware of specific tips that will encourage long-term savings for you on a regular basis.

Tip#1: Increase your deductible

One of the best things you can do that will immediately lower the price of your insurance is to raise your deductible. This is the amount that you must pay before any claims being paid to you by your insurer.

Keep in mind that you will need to have this amount on hand in the event of damage to your property. However, the higher you raise your deductible, the greater your savings will be.

Tip#2: Get combined coverage

You most likely have an automobile that will need to be insured. Be sure to get your insurance for your cars at the same insurance company to allow for higher savings.

Studies indicate that you may be able to save as much as 15% by combining your home and auto coverage needs together. This is sure to be the motivation you need to do so, and you will only need to make one payment monthly for your insurance, as well.

Tip #3: Pay your bill annually

You may be tempted to opt for the monthly installment plan, but did you know this will end up costing you more in the long-term? Insurance companies will bill you extra each month for choosing this payment option because of the additional paperwork that must be done in the office.

It's possible to save a few dollars each month by simply paying your home insurance bill annually. 

Tip #4: Install a security system

One of the best ways to protect your investment is by installing a security system in your home. This will additionally reduce the cost of your coverage in the process.

Keeping your home insured will allow you to feel confident at all times that you will be protected. Being able to reduce the amount to do so lies in your hands. Be sure to consult with your insurance agent to provide additional ways for you to save money on coverage today. To find out more, speak with a business like Reinhardt's Insurance Agency.

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24 May 2016