Your home is likely one of the most valuable assets you have, so it is important to protect your investment with homeowner’s insurance. If your home catches on fire or is robbed, all your possessions will be protected. If you have to live in a hotel while your home is being repaired, your living expenses are taken care of. Homeowner’s insurance, however, can get very expensive. Here are five ways you can lower your rate:
Secure Your Home Better
A great way to save money on your homeowner’s insurance is to secure your home better from theft. For example, you can install an alarm system in your home, which you can find online from sites like wirelessalarmsystems.com. Depending on the type of alarm system you get. If an intruder tries to get in your house, the alarm will go off and police will be at your home within minutes. If you make the effort to protect your home, an insurance company will think you are responsible and might offer you a discount.
Raise Your Deductible
An easy way to save some money on your monthly premium is to just raise your deductible by a few hundred dollars. If you decide to use this strategy, you will want to make sure that you have money set aside for the deductible in case something happens.
Consider Consolidating Your Policies
If you already have health or auto insurance from one company, you might want to get your homeowner’s insurance from the same company. This way, you can consolidate your policies and save money. Consolidating your policies will also save you time because you will just have to worry about one bill.
Improve Your Credit Score
Many insurance companies are offering better rates for those with good credit scores. If your credit score is not that great, do everything you can to improve it. Paying your bills on time and not having too many open credit accounts are just a couple of ways to increase your credit score.
Avoid Buying Coverage You Do Not Need
It makes no sense to buy coverage that you really do not need. For example, if you live in a state where earthquakes do not occur, you should not get earthquake coverage.
These tips should help you lower the price of your homeowners insurance. Be sure to shop around for homeowner’s insurance, and do not be afraid to inquire about discounts.