Do you want to save money on homeowner insurance? If you do, you’re not alone. For most people, homeowner insurance costs seem to increase every year, and saving money on this feels more out of reach. But if you think the high cost of homeowner’s insurance gives you an excuse not to have it, rethink again.
Not having the right homeowner insurance in place for you and your family sets you up for a financial disaster. Below are a few simple ways that will help you save on homeowners insurance.
Whilehomeowners insurance is designed to protect you and your home, excessive home insurance claims can lead to increased rates. Even though a minor instance might be covered, filing a claim might not always be the wisest move for your wallet.
Insurers often reward you with discounts for being claims free for a specific number of years. When deciding whether or not to file a homeowner’s insurance claim, weigh the cost of paying out of pocket against the impact the claim could have on your home insurance premiums.
DitchRisky Items You Don’t Use
It may be worth getting rid of the trampoline you kids have outgrown or the swimming pool with the little more than leaves floating in it. Liability insurance is one of the keycoverages of your home insurance policy, and it protects you from legal and medical bills if anyone is hurt on your property.
Structures that increase the risk of claim, such as pools, trampolines and playground equipment can drive up insurance costs. Contact your insurance company to see if adding protective features such as a fence or removing these structures could lower your rates. It is then that you can think about getting and comparing insurance quotes.
Purchasing a home and all the products and services that come with it is a significant financial undertaking. While you can’t do much about your mortgage payments, you can take steps to lower the cost of your homeowners insurance. Understanding how home insurance works and putting in a little legwork, you can unlock savings opportunities and better protect your home.