Whether you’re a new homeowner or not, there are ways to save money on homeowners insurance. Homeowner’s insurance can vary dramatically from one company to another. While factors such as your location and home’s size may be out of your control, there are ways to reduce your bill. Read on to know how to save money on homeowners insurance in just a few simple steps.
Shop Around
Start your homeowners’ insurance comparison process by looking at prices and extra coverage options. Each company will have different coverage rules, but you can use their policy descriptions to compare. Once you find a few companies that are within your budget, ask about endorsements or other types of coverage to see if you can get additional benefits with an extra payment. Ensure you enquire about deductibles as well.
Get Home and Auto Insurance Together
You can typically lock in lower rates when you opt for home and car insurance from the same provider. This is because companies offer insurance discounts for purchasing multiple policies at once. By combining your policies into one account, you’ll have access to all your policy information in one place. This will save you time because you only have to log in once to see both of your policies.
Look for Additional Discounts
Though multi-policy discounts get most of the credit for helping you save money on home insurance, there are other ways to save. Some carriers offer discounts for homeowners who pay their bills via a credit card or paperless billing. Insurance companies also offer discounts for homes with non-smokers. Read your policy terms ahead of time to claim discounts for being a part of an association.
Protect Your Home
Protecting your home from fire, natural disasters, and theft reduces the risk of having to file a claim in the future. Taking active steps to shield your home from costly claims can give you lower home insurance rates. You could save money on premiums and protect your house by using fire-resistant roofing materials or installing storm shutters.
Home security features such as deadbolt locks, security and sprinkler systems, alarms, and smoke detectors can also reduce your premium.
