If you’re looking to cut back on expenses, you might think of obvious solutions. Going out less frequently and eating at home instead of at restaurants are ways to save a lot of money. Did you know though that you could also be saving money on your homeowner’s insurance?
Let’s review five ways you can lower your premium.
1) Bundle multiple policies
Auto, home, and life insurance are the most common policies and many companies will offer discounts if you buy multiple policies through them. We at Cullen Insurance offer bundling discounts because it makes it easier for us to manage your policies in one place.
2) Reinforce your home
No matter where you live, there will be some threat of a natural disaster. Whether the threats are hurricanes, tornadoes, blizzards, or earthquakes, your insurer will keep this in mind when pricing your premium.
If you take the time to make your home more resistant to natural disasters, there is a smaller chance that your company will have to pay a large claim, and for this they often reward you with discounts.
Here are a few improvements you can make to better protect your home:
- Reinforce your roof
- Install storm shutters
- Build with concrete where possible
- Modernize plumbing and electrical systems
3) Improve your home security
As with protecting your home from natural elements, you can save money by protecting it from human elements as well. These following methods will help deter thieves and prevent catastrophes which will make your home safer for you and a safer investment for your insurance company:
- Install dead bolt locks on all doors leading in and out of the house
- Install security cameras around the perimeter of the house
- Install a burglary alarm system
- Install smoke and carbon monoxide detectors throughout the house
4) Keep a good credit score
Though it may not be obvious, a good credit score is helpful even when buying insurance sometimes. Your credit score is a fair indicator of your life choices and habits. If you have a high score, it shows that you are fiscally responsible and will likely be a responsible homeowner. Some insurance companies will offer this discount. So be sure to always ask!
Take note of these quick tips on how to earn and maintain a good credit score:
- Pay your bills on time
- Only obtain credit you know you can repay
- Keep your balances as low as possible
- Check your record often for errors and fix them
5) Raise your deductible
This is the last tip, and the one people most often ignore. However, if you followed the steps in the previous four tips, then raising your deductible should be less of a worry.
The more money you’re willing to pay upfront to cover a loss means the less your insurance company will have to pay.
Do your research and make your home as safe as possible to minimize the chance that you’ll ever have to file a claim at all. If you do this, your insurer will reward you for your hard work with discounts.
If you want to learn more about how much you can save on homeowner’s insurance, then call Cullen today at (661) 948-4444 or visit us online to get your free quote here: Get a quick quote with Allstate