Homeowner 101 – Save Money on Homeowners Insurance

Being able to save money where you can is something that all of us are looking to do. Tightening the belt around the New Year is a common resolution, and homeowners is one area where you can actually cut the fat a bit and be able to save money without scrimping on the coverage you actually need. Here we will look at a number of ways to get that coverage without having to pay more, and also, ways you can lower the amount you spend on your homeowners insurance overall.The number one way to save money on your homeowners insurance is by raising your deductible. You can drastically reduce your premiums this way but you have to be sure to balance out what you could afford to pay were the situation to occur. For instance, you may not want to raise your deductible if you live in a place where certain natural disasters are commonplace- but if you have a separate rider or insurance for that, then there is no harm in raising your deductible a bit for the overall homeowners coverage. Here’s what you stand to save in raising your deductibles.-$500 and save up to 12%.-$1,000 and save up to 24%.-$2,500 and save up to 30%.-$5,000 and save up to 37%.Combine your policies. It is always a good idea to purchase all of your insurance from one provider- this helps you to keep things organized, yes, but more often than not, you get a discount for purchasing all of your insurance from one company. For instance, by your home and auto insurance from the same company, or life and home. Usually you will find that in order to gain added business, insurance companies are more than happy to offer a discount.Don’t insure your land- sure, your home and belongings could be damaged by a fire or other natural disaster, but the land it is sitting on won’t. If you’re including the value of the land in your homeowners insurance, you’re essentially paying to cover something that is probably not going to endure any repairable damage.Make sure that your security is beefed up. Installing things like alarms of various sorts, deadbolts and smoke detectors often come with an individual discount per item. Installing a very sophisticated home security system may also offer a hefty discount, but you should always check with your insurance company to find out which is highly recommended to be sure you get the best discount possible.These are just a few of the ways that you can save money on your homeowners insurance premiums going into the New Year. If you find that your insurance company isn’t offering you the sort of discounts that you’d like, or if even with the discounts they offer your premiums are still too much, you may try shopping around for a new provider.

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