The Top 5 Ways to Save Money on Home Insurance

How to Lower Your Home Insurance Premium

When searching for a new insurance policy, everyone wants to save money while still receiving great service. Homeowners insurance costs an American homeowner on average $952 based on a study done by ValuePenguin. One of Lareme Fesslers’ main goals is to help you find the right policy that will fit all of your needs at an affordable rate. In this post we will help you see simple ways that you can decrease the cost of your home insurance. By doing these tasks, you can save not only money, but also time searching for the right policy.

1. Raise Your Deductible

Your deductible is how much you pay after a loss before your insurance kicks in. By raising your deductible, this will lower your premium because you will pay more out of pocket when a claim is filed. Because you only use your home insurance when a major disaster hits, it is fine to have a higher deductible then on your medical insurance. Just make sure to be realistic when raising it. You don’t want to find yourself unable to pay for those expenses if they are needed.

2. Bundle Policies

There are many different types of insurance you may need. When looking for the right company to help you with these needs, you may want to consider using the same one for multiple. Many times, if you bundle policies from the same company, they will offer you discounts and rewards.

3. Make your Home More Secure

Adding more locks and a security system wont only save you sleep at night, but it may save you money too. There are some insurance agencies that will lower your home insurance premium for having a more secure home.

4. Maintain a Good Credit Score

We all know that keeping a good credit score helps with car insurance. It also can help save you money on home insurance. Having bad credit makes you a high-risk customer, so your premium will be raised. If you keep your credit at a good score, you will be rewarded with a lower premium.

5. Pay Your Bill in Full

When you receive your bill at the beginning of the billing cycle, you have the option to pay month by month, or all up front. It may seem nice to pay a smaller bill every month, but it will end up costing you more. There is an added fee when choosing to pay monthly that can be eliminated by paying in full.

There are many more ways to decrease the cost of your home insurance premium. We have found these to be a few of the top ways. Another big way is to shop around to find the right insurance company for you. We know that time is money, so save even more by allowing Lareme Fessler to help you find that company. Click below to see what services we offer and receive a quote.