Looking to save a few pennies? Check out ways to save on your home insurance!
The price that you pay for your home insurance can vary by hundreds of dollars. While your neighbor pays twice what you do, selection of coverage plays a huge role in your premium. While your premium is largely based on your home’s value, contents, and coverage, homeowners should note that there are always easy (and simple!) ways to lower your rate.
When you’re finding home insurance:
- Shop around – People tend to take out home insurance with their mortgage provider for convenience. As it turns out, this is not always the cheapest way to go. Save money by shopping around.
- Raise your deductible – Paying a higher excess on claims will usually get you a discount from your insurer, although you’ll be paying more out of pocket in the event of a claim! Before you do this, ensure that you can afford this cost.
- Bundle– Many insurers give you a hefty discount if you insure your vehicles, home, and more under one company.
- Pay annually – While monthly installments can be convenient, it’s almost always more expensive as insurers tend to charge an additional admin fee on top of your premium.
Already have insurance? Use these tips:
- Install safety features – As your home is better protected with a fire alarm, burglar alarm, and security system, insurers will often reward this with a discount.
- Install a safe – Many insurers charge extra to insure high-value items. Storing expensive jewelry away in a sturdy, locked safe could offset the extra home insurance cost.
- Smoke-free discount – If no one in your household smokes, you may be able to get a discount for being fire-safety conscious.
- Protect your home against potential flooding – Living in a flood risk area can make getting home insurance difficult. Take out flood insurance to receive protection from this threat.
Are you still looking for a reliable way to save on your home insurance policy? Contact the professionals at Nahai Insurance to secure a reliable policy that your home needs and deserves.
