Tips for Lowering Your Homeowners Insurance Premium

Your home is your largest investment and you need to protect it by purchasing homeowners insurance. While having the appropriate amount of insurance is important, there are still ways to save on this expense. The goal is to have the right coverage for the lowest costs, and here are tips to help you do just that.

  • Maintain Your Roof. Insurers consider everything from the perspective of risk. If you have a new or well-maintained roof that makes your home less susceptible to water leaks and other damage, your rates will increase.
  • Remove Old Structures. Your policy includes all outbuildings on your property, and insurers take into consideration how many there are and how well they are maintained. When you remove any unwanted sheds or buildings from your property, your rates will decrease.
  • Insure only Your Home. Most homeowners policies insure both the land and the home. Unless you live in an area with a high risk of flooding, wildfires, or other natural disasters, your property is unlikely to sustain any serious damage, even if your home does. Limiting the policy to cover only your home makes sense and saves you money.  
  • Install or Upgrade Security. Motion-activated floodlights, smart doorbells, and additional deadbolts lower your rates. Select those options that will truly help protect your home and property and focus on those security additions. 
  • Make Your Home More Disaster-Resistant. Depending on where you live, installing storm shutters or elevating your utilities to be above ground may result in a drop in your premium rates. Modernizing your heating, plumbing and electrical systems reduces the risk of fire and water damage and can also lower your insurance costs. 
  • Don’t File Claims for Small Issues. To address damage that you can easily cover out-of-pocket, do so rather than file a claim. It can keep your rates from going up with your current insurance carrier and help get better rates as you shop around.
  • Increase Your Deductible. If you can afford to pay more out of pocket than your current deductible, raise it to save money without losing coverage. 
  • Research Insurance Options. Some people will tell you that staying with the same insurance company will lower your rates over time or that you can save money by bundling your home and auto insurance. These statements can be true in some situations but there are exceptions. These exceptions have increased due to the growing options of purchasing quality coverage from on-line providers. Work with a company that represents several insurance carriers to find the best deal for the right coverage.

At Alliance, we know how to find the best deals from trusted insurance providers and can help you save money while obtaining the coverage you need. We can present you with a variety of options that meet your needs and your budget. Request an online quote or call us at (866) 771-4715 to speak with one of our experienced agents. Let us help you start saving money today. 

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