For anyone who owns a home or is in the market to buy one, homeowners insurance is a necessity. Monthly premium payments are a small price to pay in order to protect the largest investment that most of us are ever likely to make. You have to have good coverage but that does not mean that you have to pay too much for it. This article is going to give you six quick tips to get cheap home insurance rates and make sure you save money on homeowners insurance.
1. Install a security system:
If your home has a security system you may be eligible for discounts on your homeowners insurance premiums. Insurance companies know that homes with security systems are far less likely to be burglarized. This means that the insurance providers are less likely to have to pay out claims for damage caused by a burglar or for missing personal property.
2. Quit smoking:
Believe it or not, non-smokers can actually pay less for their homeowners insurance than smokers do. The reason for this is because a large percentage of house fires are caused by cigarettes. If you reduce the risk of your home being destroyed or damaged in a fire the insurance company has less risk of paying out claims and the savings are passed on to their customers.
3. Raise your deductible to lower your premiums:
The deductible is the amount that you are required to pay out of pocket before the insurance provider will pay out for a claim. If you were to raise your deductible from $500 to $1500 you could save hundreds of dollars in premium payments. Raising your deductible would make filing a claim for small damages like fixing a backyard fence that blew down in a heavy wind out of the question. But Keep in mind that making small claims with your insurance company would raise your premiums so it's probably not a good idea anyway. Your home would still be fully covered should you sustain more substantial damages and you will certainly save a lot of money in the long run.
4. Bundle coverages to get discounts:
If you carry more than one type of insurance with the same company you may be eligible for discounts on those different coverages. For example if you carry homeowners insurance, auto insurance, and life insurance all with the same company you may be eligible for discounts on each of those.
5. Don't over insure:
A mistake that a lot of homeowners make is thinking that if they paid $300,000 for their house they need to carry $300,000 worth of homeowners insurance. The fact of the matter is that a large portion of the cost of a home is the land that it sits on. If your home were completely destroyed you would not need to replace the land you would need to replace the structure and any personal property that was lost. Figure out how much it would cost to rebuild your house and replace your personal property and that is how much insurance coverage you should have.
6. Comparison shopping:
There are a lot of insurance companies providing homeowners coverage these days. With competition among insurance providers comes an opportunity for customers to save money. Whether you're currently shopping for homeowners insurance or you've been with the same provider for years, and few minutes spent online getting multiple homeowners insurance quotes could save you hundreds of dollars. Get a quote from a number of different companies and then choose the one that offers the most coverage at the best price.
Stop overpaying for your homeowners insurance. Get free online homeowners insurance quotes and join the thousands of others who are saving big money on their premium payments. Visit http://www.get-homeowners-insurance-quotes.com and see how much you can save.
