WAYS TO SPEND LESS ON YOUR HOME INSURANCE POLICY

Home insurance is a policy that protects your home, and the surrounding outbuildings, from damages due to acts of nature, or when your house decides to act up. Broken plumbing, fires, and any other circumstances that the house throws at you. As for Mother Nature, nothing more can be said that is not already known. If your policy lists the act on the list of things covered, you are good. If not, get your work pants on and get to it.

Depending upon the policy that you have home insurance can become a huge expensive. Premiums can be reduced by following a few simple tips, but before going over that we need to make sure that you have a current appraisal done on your house. Make sure that you have it done by a licensed appraiser that can give you an accurate number based upon your house, and the market in your area.

  1. Excess-The higher that you put the excess amount, the lower your premium will be. This is a strategy that can lower your cost by a substantial amount, but if you are not careful it could leave you homeless. You need to have a budget made out before you adjust this number. You need to know how much you can safely afford to pay for the coverage. You will also need to know what the maximum amount is that you would be able to pay out of pocket. It is always good to play on the safe side, so go down a little from your top amount, and go with the policy that matches your needs and price range.
  2. Yearly Premium-If it is within your budget to pay for the entire year when it comes due, you need to do it. This is the easiest way to save money on your premiums overall, even though it is a lump sum once a year. It is beneficial for you to do it this way because it will give you a discount, plus it will allow you to lock the price of the policy in until the next pay cycle occurs.
  3. Correct coverage-You need to make sure that you have the correct coverage for your home and buildings. The coverage amount needs to be high enough to cover everything that you have, plus a little higher to make sure that your policy allows for any cost fluctuations in the market. You only need the amount that you have factored out. If you pay for less than you need, you may be living in a shack if something should happen.
  4. Home improvements-There are several home improvements that you can make to get a lower premium on your home insurance. The safer that your house is from sustaining damage, the better risk that you will considered. The lower the risk, the lower that the premiums will be. Cut the trees down from around the house. Keep the lawn cut and watered. Have outdoor electrical parts covered with cases made for the task. Walk around the house, and the buildings, and if it looks unsafe to you, it will look like a risk to the assessor.
  5. Compare insurance carriers- The single most important thing that you can do to decrease the amount of money that you spend on your home insurance is to compare prices, and policies, from as many carriers as you can. Go onto an online platform that compares them for you. It will save you a ton of frustration. 

If you have any type of insurance plan, you are always looking for ways to save a few bucks. Even the smallest step can show a difference in the premiums. Even if you are conducting all your business online, ask the company agent what you can do to decease the cost. Most of the time they will give you some tips that they look for. If they give you advice, make sure that you follow up with them. If they do not, you may want to move on to the next home insurance carrier on your list.