Have a security system installed
Installing a security system will help you feel safer, and if you’re the type of person who’s always worried about the possibility of a break-in or burglary, it can be well worth the investment.
A security system will also save you money on your home insurance policy. If you don’t have one already and want to install one yourself (which is generally possible), ask your insurer about getting a discount on your policy by offering proof that it’s been installed.
Bundle your home and auto insurance
You can save money by bundling your home and auto insurance policies. As a loyal customer, the company will reward this loyalty by offering you discounts on your premium. You may also find it easier to manage your policies if they are combined into one company.
If you’re not sure how much of a savings you can expect from bundling your home and auto insurance policies, ask for quotes from several different companies. The amount each individual policy will cost varies greatly based on the insurance carrier and other factors.
Buy your home and auto insurance from the same insurer
If you’re looking to save some money, consider buying both your home and auto insurance from the same insurer. The most common discounts include:
- Paying for all premiums at once instead of in installments, which can save up to 20% on each policy
- Insuring multiple cars with one company, which also saves about 15% on each car’s premium
Also keep in mind that it may be cheaper to bundle your home and auto policies from the same insurer than to buy them separately (and pay an agent’s commission).
Raise your deductible
A common way to lower your annual home insurance premium is to raise your deductible. Larger deductibles can save you up to 40% on your annual premiums, which is why it’s important to make sure that you don’t have too high of a deductible. For example, if you have a $1,000 deductible and file a claim after something small breaks in the house, it would cost more than $1,000 in repairs. However, if that same item was valued at $1 million (yes—it’s possible) and needed replacement or repair due to damage from an earthquake or other natural disaster event, then raising your homeowner’s insurance deductible may not be worth it because there could be very high costs involved with making such claims for certain types of damage that are not covered under standard policies.
Bearing this in mind when thinking about raising your homeowner’s insurance deductibles can help ensure that you’re getting the best value for each dollar spent on insurance coverage for your home!
Improve your credit score
- Improving your credit score.
- How to build good credit.
- Managing credit card debt.
- Helping a family member improve their score after they’ve made some bad financial decisions in the past.
Make your home more disaster resistant
- Reinforce your home’s foundation.
- Close windows and doors.
- Secure your home’s perimeter.
- Ensure that your landscaping can withstand wind and water damage—this includes plants, trees, pools and sheds or detached garages. You’ll want to check with your insurance company before adding any new landscaping or structures to your property so they can verify they won’t increase the cost of your policy.
Your insurer may also require that you raise electrical outlets on your exterior walls above flood levels if you live in an area where that’s common (such as near a river). This will help prevent moisture from entering into electrical outlets and causing damage—which could lead to an increased risk for fire hazards in these areas as well!
Maintain your home, and complete any necessary repairs
- Keep Your Home in Good Condition
If you want to save money on home insurance, it’s important to keep your home in good condition. That means keeping an eye out for any leaks or broken windows, and fixing them before they cause damage. It also means making sure that all of the doors and windows are securely locked at night.
- Maintain Your Appliances
Using appliances like washing machines and dryers properly can help ensure that they last longer—and if one breaks down unexpectedly, it will save you a lot of money on repairs by preventing the appliance from being damaged by water damage or mildew buildup (or both). Keeping appliances up-to-date with regular maintenance could also help lower your premiums; some insurance companies offer discount programs specifically designed to reward customers who participate in these kinds of programs!
- Make Sure All Appliances Are Working Properly Before Moving In
One mistake many homeowners make when moving into a new house is not checking all their appliances beforehand; this is especially true if moving into an older house where some appliances may have been left behind by previous owners who didn’t want them anymore but couldn’t afford new ones either.”
Shop around for homeowners insurance regularly
Shop around for homeowners insurance regularly. While you might not think you could save hundreds of dollars by switching from one company to another, the truth is that you can. Most people don’t realize how much cheaper their rates could be until they talk to more than one insurer. It’s easy to do: just go online and ask for quotes from at least three providers, then compare them side by side and look at each policy in detail before making a final decision.
Pay your insurance premium annually, instead of monthly
- Pay your insurance premium annually, instead of monthly. You can often get a discount for paying your premiums annually, rather than in monthly installments. This is especially true if you’re paying by credit card or EFT (Electronic Funds Transfer). And some insurers will give you a discount for paying in full up front, rather than making monthly payments over time.
Ask about discounts
You may be able to save money on your home insurance by asking about discounts. You can find out if you qualify for any discounts by getting a quote from your insurer. Here are some of the most common ones:
- Online quote – The more quotes you get, the better comparison shopping is possible. This also helps you determine which companies are offering competitive rates and which ones aren’t.
- Multiple policy discount – If you have multiple policies with one company (like auto and life), they might offer a higher discount than other insurers who don’t offer this type of combination discount.
- New home discount – This applies if you’ve just purchased a new house and haven’t had any claims over the last 3 years (or 5 years).
- New roof discount – Get this if there’s been no damage to your roof in five years or less (depending on what time period works best with each specific provider).
There are many simple steps you can take to make sure you get the best rate.
There are many simple steps you can take to make sure you get the best rate.
- Check your credit score. If you’ve got a low credit score, it could cost more to insure your home because insurers think that people with low scores are more likely to file claims for damage or theft. If your score isn’t what it should be, consider getting help from a credit counselor or working on boosting it by paying off debts and limiting new credit card applications.
- Check if you qualify for any discounts. Depending on the kind of coverage and amount of risk associated with your home (like whether you live in an area prone to earthquakes), some insurers may offer better deals than others. For example, some companies will discount their premiums if they know that all adults living in the house have graduated from high school while others might give discounts based on how long they’ve been customers at their company rather than just looking at each person’s individual history
