Budget Concerns: How Much Insurance is Enough?

4 Ways For Getting Home Insurance Coverage For Less

14 August 2015

Dustin Duncan

Being able to have the right amount of coverage for your home is sure to be high on your list of priorities. This will provide you with the peace of mind you need when it comes to your home being covered in the event of a disaster. Knowing some important ways to decrease the cost of your homeowners insurance is ideal for any individual to know.

Beef up Security

Of course, you may have deadlocks on your doors to keep robbers out at all times, but adding a more sophisticated security system is sure to help reduce your overall homeowner's insurance costs.  By adding a security system that will alert the police department immediately if your home is broken into, you may be capable of reducing your overall costs of at least 15%-20%. This could add up to huge savings for any homeowner.

Reducing Claims Filed

It's a great idea to avoid filing a claim for every little incident that occurs in your home. For instance, if you break out a window while mowing, you should consider fixing this on your own rather than reporting it to your insurance company.

The fewer claims you file in any given period, the less you will be forced to pay for you annual insurance costs.

Increasing your Deductible

When filing an insurance claim, you will need to pay an insurance deductible before your claim is paid. Many people may keep this amount low in order to receive more money from your insurance company after they have to make a claim.

However, in the long-term, this may not be the best idea. When you increase the amount of your deductible, you'll be able to receive lower insurance premiums, and this is typically on the mind of most insured people.

Seek Discounts

It's highly possible there may be additional discounts that you aren't even aware of when it comes to your individual policy.

Listed below are some common types of discounts provided:

1.  Some companies offer discounts if you've been insured with the same company for a while.

2.  If you add your auto coverage needs to your home insurance needs, you will be provided with an added discount.

The benefits of having homeowner's insurance will allow you to have an increased peace of mind. Be sure you work hard to find ways to cut your costs by speaking to an insurance agent, like the ones at Harris Insurance Services, for more ways to do so!

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