Your homeowners’ insurance is an expense you need to maintain. If you have a mortgage or other type of lien on your home, you may be required to maintain coverage, or the lender will buy the coverage and charge your account. Since it is a monthly expense you can’t do without, you must shop around to find the most affordable coverage. There are several things you can do to keep your insurance costs low.
Raise Your Deductible Amount
The quickest way to lower your premium is to raise your deductible amount. Raising your deductible means you pay more out of pocket when a claim is filed and less each month to keep your coverage in good standing. Lower premiums will make it easier for you to budget for your policy each month and ensure it is affordable.
Compare Different Policies
There are several different types of insurance policies you can choose from to protect your home. Some are fairly simple, and others are more comprehensive, covering all known perils. Some policies are written to cover the replacement cost of your home, while others will only cover the market value of your home. Know what you need before you start your search.
Bundle Your Policies
One of the best ways to manage multiple policies is to bundle them. You can include your auto, home, boat, and motorcycle policies. This keeps all your insurance information in one place, and you get a discounted price on each policy. This allows you to manage your policies better and is quite beneficial when filing an insurance claim.
Maintain Your Home
The best way to keep your home’s value high is to keep it in good condition. Annual maintenance on your HVAC, plumbing, and electrical systems will keep them in good working order. Having your roof inspected regularly will ensure that any repairs are made promptly. While this may not seem important, having all the important aspects of your home in good working order makes it a much lower risk for a claim. This, in turn, means lower premiums for you. Home maintenance doesn’t cost much and will pay off in the long run, especially if it helps you keep your home’s value at the higher end of the price range.
Upgrade Your Home Security
Keeping your home secure is a top priority. Installing a new home security system or upgrading an existing one is a great way to reduce your risk of vandalism or a break-in. A good home security system will also provide environmental protection that detects changes in moisture and heat. If your system is professionally monitored, help can be sent immediately when an emergency occurs, reducing your risk of damage. In addition to your home security system, install a privacy fence and exterior lighting for additional protection.
When looking for ways to stay within your budget, making your homeowners’ insurance premiums more affordable is one option. Contact the agents at Burton A. Harris Insurance Agency today. We can help you find several ways to cut your insurance costs. Call us today to learn more about saving on your insurance needs.