Homeowners insurance is imperative for covering your belongings and property, but not all policies are created equal. Comprehensive or specialized coverage can add up quickly, but there are simple ways to cut costs now:
Improving Home Security
Enhancing your current safety measures within your home can help you cut costs by as much as 20%. Installing alarms, sprinkler systems and fire monitoring measures will show your insurance company that your house is less of a liability. It’s important to note, however, that not every system qualifies for a discount— talk to your insurer to find out what kind of measures will help reduce the costs of your premiums.
Raise Your Deductible
As with any type of insurance, the higher your deductible, the more you’ll save on your premiums— but it’s important to note that money in your pocket now might mean a bigger out-of-pocket expense when you need to make a claim. Depending on the risk associated with your location, it might be wise to pay up-front now and save later when it comes to homeowners insurance.
Avoid Smaller Claims
Many insurers will offer discounts if you don’t file a claim for a specific period of time, so avoiding smaller claims might be your best bet to saving money. As with any insurance, filing a claim will typically raise your annual insurance costs, which is why it might be best to pay out-of-pocket for minor damages if you can afford to— this will save you money over time, since you won’t see the immediate rate increases associated with making a claim, and can receive discounts for your claim-free periods.
Compare Insurers and Policies
Of course, the best way to ensure lower insurance costs: finding the best coverage at the lowest cost. This can be difficult with the sheer number of insurers and policy options, but utilizing top-quality California agency insurance services might be your best bet.
NHC Insurance has access to numerous highly-rated insurance companies with a variety of policy options— we can find the best homeowners insurance for your needs and budget, creating a package that caters to your home’s specific requirements.
Contact us to learn more.