Whether you’ve just purchased your first home, or you’ve been calling yourself a homeowner for some time now, you know that having good home insurance is a must. But for many of us on a budget, it’s important that we get the best coverage for the best price.  What steps can we take as a homeowner to ensure that our property is adequately covered while still keeping our premiums down? Check out these 5 ways to best lower your home insurance:

  1. Ask – Many insurance agencies will offer a discount if you bundle your home and car insurance together. Additionally, they also have a tendency to lower your rates if you’ve been with the company for several years. Be sure to ask your provider of any discounts they may provide.

  2. Increase deductible – Increasing your deductible is the quickest way to lower your rate. Just be sure to stash some or all of that money aside in case something should arise.

  3. Review your policy – Annually reviewing your home insurance policy is often overlooked. Things can change drastically in a year, so be sure that your policy covers what you need it to and not what you don’t.

  4. Spring for fixes – Sometimes you have to spend money to save money. Pay to have that old tree removed, or that unsightly shed in the back yard taken down. This type of property upkeep can help decrease your premiums.

  5. Safety Upgrades – It goes without saying, but your home should already be equipped with smoke detectors and sturdy locks. Look into installing a security system that can digitally monitor the house for burglars. In addition, taking precautionary steps against any bad weather with storm shutters and roof updating is another option, but always make sure to notify your agent if you get a new roof. Not only will that give you peace of mind, but these are all assets that can help lower your rates.

Although some of these upgrades will have upfront costs, you will be able to save money on your premiums in the long run. Be sure to review your policy every year and discuss options or changes with your insurance provider. He or she may be able to assist you with further money-saving advice and provide you with the best option for your home. If you have any questions regarding your home’s insurance rates, please give us a call. We’d be happy to help assist with all your insurance needs.

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