Decreasing your home insurance costs can be extremely difficult if you want to save money without skimping on your insurance coverage. However, there are a few ways to convince your insurance company to decrease the cost of your home insurance policy, such as the two listed below.
Secure Your Home
One of the easiest ways to convince your insurance company to lower your home insurance costs is to make your home more secure. The reason for this is that a big part of how your insurance company determines the cost of your policy is by looking at how much of a risk there is to your house being broken into due to such factors as your neighborhood and the security measures that you have taken. The higher this risk is, the greater the chances are that the insurance company will have to pay out on a claim because someone broke into your house or vandalized your property.
However, if you can decrease the risk, the insurance company will see that the odds of you filing a claim have decreased and will lower your premiums. One of the simplest ways to accomplish this is by installing a security system. In most cases, your discounts will go up depending on the extent of your security system, so a monitored security system that detects intruders, fire, and gas leaks will usually provide a larger discount than an off-the-shelf security system that only notifies you when the alarm is tripped.
Another way to make your home more secure and get your insurance company to provide policy discounts is to install impact-resistant windows. This option secures your home by being incredibly difficult to get through since the window is made up of two pieces of glass positioned on either side of an adhesive film. When the windows break, the film keeps the glass in place, making it much harder for debris from a storm or an intruder to get into the house.
Bundle Your Policies
Whenever possible, you will want to make sure that you keep all of your insurance policies with one company. If you have a car, RV, boat, or other insurance policy, consider transferring those policies to the company that is providing your home insurance policy. When your policies are combined in this way, the insurance company will typically provide a discount on all of the policies, which is a fantastic way to lower the cost of your home insurance policy without having to make changes or modifications to your home.
Contact your insurance agent in order to discuss what you can do to lower your home insurance costs. Securing your home and bundling your insurance policies with a single company are both great ways to decrease your home insurance costs.
Insurance is something that I carry in the hopes that it never has to be used. Along with life coverage, I also have low cost auto insurance and a health plan through my employer. I'm toying with the idea of adding some additional coverage, just in case something happens and I'm no longer around to take care of my family. The question that is on my mind is how much insurance is enough? Do I really need more, or would it be better to cultivate other assets that my loved ones can draw on if needed? If you are in the same boat, let's journey together for a while. Read on and I'll explain what I'm trying and why. Together, we can figure out when it is time to add more coverage and when enough really is enough.