It does not take so much effort on your part to cut your home insurance cost. Find out some ways to protect your home more adequately from losses arising from disasters without spending much.
Compare prices offered by several home insurance companies. You can get quotes from insurance agents or from the web sites of insurers. Just see to it that you are getting quotes from reliable insurance companies that have been operating profitably for a long time.
Ask also for the types of discounts that they offer. Some house insurance firms may offer significant discounts that fit your status or condition.
Increase your deductible. This amount represents your part in the risk. This will be the amount you need to pay before the insurance firm pays its part. If you raise your deductible to $1,000, you will cut your premium by up to 24 percent; if you increase it to $2,500, you will get a discount of up to 30 percent.
Consider buying your homeowners insurance from the same firm handling your auto insurance to get a discount. Some insurance firms even have umbrella insurance policies which include other types of insurance products.
Do not include your land in your home value estimates. Theft, storms, fire and other disasters do not destroy the ground your house is sitting on.
Enhance your safety and security systems to reduce the risk of burglaries, fires and other accidents. Ask your home insurance agent which type or brand of home security systems the insurance company considers for discounts.
Some home insurance firms give discounts to non-smoking homeowners. The insurance industry has found that over 23,000 fires hit homes every year due to smoking-related incidents.
If you are a member of an association, ask your officers if they have a group coverage or a discount arrangement with a house insurance firm.
Retirees get discounts from some home insurance companies because most of them stay at home and have more time in protecting their homes from perils.
If your homeowners insurance company has been profitable for many years and have been processing claims faithfully, stay with your firm. Your loyalty will be rewarded with discounts.
Check your home insurance policy each year or every time there is significant change in your house or your belongings. Make sure the amount of your insurance equals the cost of replacing your house in case something happens.