Saving money on home insurance is easier to do now than ever before. You may already know that avoiding claims can keep your premiums from increasing. You may know that bundling policies cuts costs, too. There are various other ways you can reduce what you pay for home insurance if you know what to look for specifically. Here are some tips.
#1: Keep Your Credit History Positive
Believe it or not, your credit score plays a role in how much you'll pay for home insurance. A key reason for this has to do with how insurers view this number. A high credit score indicates you are responsible, and therefore a safer financial risk. You are less likely to miss payments or defraud the company.
#2: Don't Overlook Private Plans
In some high-risk areas, government plans seem to be the best option because of their availability. For example, if you live in an area at risk for coastal storms, government plans are common. However, private home insurance plans may still be an excellent choice, and even a more affordable option. Remember, private plans can be purchased through your independent insurance agent.
#3: Determine What You Really Need
If you are currently looking for a new home insurance plan, talk to your agent about what your actual needs are. In some cases, you may need less overall coverage, or perhaps more coverage. Remember that it does not make sense to purchase a policy (even if it is less expensive) if it cannot protect you from the risks you are most likely to face.
#4: Ask About Discounts as you Get Older
Many times, insurance rates on real estate drop as the property owner gets older. For example, if you are 55 years of age or older, call your agent to ask about discount options. Some insurers will offer up to a 10 percent discount for seniors.
#5: Make Your Home Less Risky
Adding improved roofing materials, hurricane-strength siding and a better flood prevention system not only keeps your home safe and reduces your energy costs, but often also helps to reduce your overall insurance cost.
When it comes time to renew your home insurance plan, call your agent to learn about all of your options. Don't settle for just any plan, but rather one that gives you the peace of mind you need.
Get a quote today. Call Paris-Kirwan Insurance at 800-724-2627 for more information on home insurance.