Learn how to reduce your home insurance costs
Have you every wondered how people lower their homeowner’s insurance costs? Some might tell you, “just don’t buy insurance!” But that’s not a realistic option. Home insurance is necessary in protecting you against unforeseen incidents.
Below are just a few ways to help you lower your homeowner’s insurance cost and get the protection you deserve.
Increase your deductible.
Have you ever considered increasing your deductible? I know, we’re talking about lowering cost, so why would you want to increase the cost of your deductible? Well, it can have an immediate impact on your insurance costs overall. A higher deductible most often results in a lower premium because out-of-pocket costs would be higher if you filed a claim. If you do decide to increase your deductible, be realistic and smart about what you can afford should you have to file a claim.
Reinforce your home.
When I say, “reinforce your home,” I mean add improvements that could assist in the event of natural disaster. For instance, adding storm shutters, reinforcing the roof, retrofitting an older home to resist earthquakes or updating your utilities can reduce insurance costs. These improvements minimize the risk for fire and water damage; therein making the risk of property damage much lower.
Reduce flooding risk (if you’re in a high-risk flood zone).
Did you know that flood damage is the number one insurance claim in the U.S? Because of this, insurance rates may be much higher on these homes than on others not in a flood zone. You may be able to reduce your insurance costs by installing proper flood prevention utilities such as flood openings, or even elevating your home. If you live in a low to moderate risk area, consider adding flood insurance. While this could cost you more, you’ll be protected from flood damages.
Look for discounts.
This goes without saying. When shopping around for insurance, using an agent or company that does the shopping for you can yield discounts you may not have found on your own. Similar to auto insurance, you can find discounts for things like being a loyal customer or for bundling your policies. It never hurts to ask!
Get rid of unnecessary coverage.
For many of us, spring cleaning is a must. And just like the inside of your home, your home insurance policy may also benefit from some spring cleaning. Start by looking at your policy and making sure the coverage you currently have is still relevant for your home. Saving a few dollars on the front end by reducing your coverage may cost you more on the back end if your home sustains major damages.
At Amigo Insurance, we make sure you have the lowest rates possible and the most effective coverage level based on your needs. While we can’t offer you a health tracking device, we can do all the hard work for you. Don’t let insurance be more complicated than it needs to be. We can help you find the best plan based on specific information you disclose to us. We then use that specific information to make sure to select the best coverage centered around your needs.