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4 Tips To Help Decrease Your Homeowners Insurance Payments
By SANDY BAKER
Home insurance covers many unexpected costs like fires, thefts, and vandalism, and in 2021, homeowners paid an average of $1,249 per year to protect their homes. If you are looking to reduce your homeowners insurance, here are four methods to help you save.
Increase Deductible
Your deductible is the amount you pay in a loss before insurance, and it usually falls between $500 to $2,000 per policy. Increasing your deductible can lower your premiums, but be sure not to raise the amount more than you can afford to pay in an emergency.
Reputable And Reliable
Shop around for the best, most affordable policy by asking insurers for quotes online or with an agent. You should check the financial stability of insurers through companies like AM Best to make sure they are reliable and don’t have any major complaints.
Home Security
Ask your insurer how much you can save with home security features as some companies will reduce the cost of your home insurance by up to 20%. Monitored home security can give you the best benefit, but adding cameras and lights may also help.
Find All The Discounts
Many insurers offer military, senior, and claims-free discounts, or with companies like Progressive, you can bundle home and auto insurance together to save 5%. Ask about added benefits that could better protect your home from risks and save you money.