3 Money Saving Tips to Lower Your Home Insurance Rates
It’s no secret that every homeowner wants to have lower home insurance rates. However, the truth is that most don’t do anything to attempt to lower their rates. Every year that your home insurance policy comes up for renewal is an opportunity to look around and find ways to save more money. You don’t have to settle and automatically renew your policy – You have options and all it takes is a little action on your part.
Here is common sense 3 money saving tips to help you lower your home insurance rates:
- Ask your insurer about ways to save money
Sounds simple, right? It is! You will be surprised what one call to your insurance broker can do for you when it comes to saving money on your home insurance policy. Give them a call and ask them to review your policy and look for ways to reduce your payments.
Is there an area of your policy that you are not clear about? Is there some terminology that you don’t understand? This could also be an opportunity to learn about how your policy works and better assess the specific level of coverage you need. Adjusting a policy element could help you save money too. As they say, you will never know, unless you ask!
- Make your home more secure
Having a secure home is essential if you want to save money on your home insurance policy. Remember that insurance companies determine your rates in large part based on the amount of perceive risk that exists on your property. The more you can do to lower this risk, the more you can reduce your insurance rates. This is why things like installing a home security system, have smoke and carbon monoxide detectors, installing deadbolts, and taking other precautions will not only make your home secure, it will also help to lower your rates.
- Shop around and get a quote
If you are willing to shop around each week to save a few bucks on your grocery bill, then it makes sense to do the same with your home insurance – and potentially save hundreds of dollars per year. Considering that you can easily get a home insurance quote online in only a matter of minutes, it is well worth your time. Plus, if you use an insurance broker, they will do leg work for you. Shopping around with a broker is a win-win – They do the hunting and you save money on your home insurance!
- BONUS TIP
Bundle your home and auto insurance with the same insurance to save even more money!
Have you been able to lower your home insurance rates lately? What advice can you offer to other homeowners that are looking to lower their rates and save money?