With the sky-high premiums being charged by insurance companies these days, finding a few ways to bring your homeowners insurance premiums down is just a smart thing to do. You will save money that you can use for other things in life.
Here are seven ways you can lower your Homeowners Insurance Premiums:
- Raise your deductible. Simply raising your deductible from $1,000 to $2,500 can save you a significant amount on your annual premiums. Going up to $5.000 or more will give even deeper savings. Take the difference in your premiums and put them into a savings account until you get enough to cover the deductible.
- Buy more than one policy from the same insurance company. When you combine your auto and homeowners’ insurances with the same company, you can get a decent discount. When you add other lines of insurance like life or liability, you can save even more.
- Ask for discounts. Many insurance companies offer discounts for retirees, military personnel, and families with someone at home most of the day. There may be discounts for adding certain features to your home or for paying your premium in one payment instead of many.
- Review your insurance policy every year. This is especially true if you experience a major life event like the birth of a child, divorce, death of a spouse, or an adult child moving out of your home. You may find that you don’t need as much insurance to cover your home and its possessions.
- Stay with the same insurance company. Some companies offer discounts for customers who have been with them for several years. This is especially true if you have not made any major claims.
- Make your home less likely to sustain damage and install safety devices. Keep your roof in good repair. Retrofit your home against natural damage like hurricane winds or major thunderstorms. Install burglar alarms, smoke detectors, and deadbolt locks.
- Build a good working relationship with an insurance agent. Many homeowners make the mistake of trying to get insurance without the help of an agent. That is a mistake. A good agent will work with several companies to give you the best possible premium and deepest discounts.
The agents here at Oyer, Macoviak, and Associates can help you lower your homeowner’s insurance premiums. If you want to talk about homeowners’ insurance or any other insurance need, Contact Us or give us a call at 561-732-9305.