10 Ways You Can Save $ on Your Homeowners Insurance

Aug 01, 2018

Categories: Uncategorized

One Insurer, Multiple Policies

Do you have an automobile insurance policy? If
so, is it with the same insurance company that provides your homeowners insurance?
If the answer’s no, you’re paying too much — for both policies. Almost every
insurance company that sells homeowners insurance wants its policyholders to also
buy auto insurance from that company. These insurers offer so-called multi-policy
discounts. Usually, these discounts are at least 10% — and some insurers apply the
discounts to both the auto and the homeowners/renters policy.

Raise Your Deductible

The deductible is the amount you pay before insurance
kicks in if you have a claim. For example, if you have a $250 deductible and you file
a claim for $1,000 in damage to your home, you pay the first $250 and your insurer
pays the balance, $750. The higher the deductible you choose, the more you pay.
Also, though, the higher deductible, the less you have to pay for your policy.
Depending on the insurance company, you can save between 12% and 37% if
you have a deductible of $500 to $5,000.

New Is Better

Insurers really like newer homes. That’s because it’s less likely
something will go wrong with the electrical, heating and plumbing systems. In
addition, the structure itself is in better shape. Insurers offer discounts of as much as
8% to 15% if your residence is new.