People are always interested in saving a few bucks. Have you ever considered saving money on your homeowner’s insurance? There are a few things you can do to trim some dollars off your homeowner’s policy.
One of the quickest ways to save money is to just shop around. Sometimes people become complacent when it comes to homeowner’s insurance. Sometimes the insurance premium is paid along with the mortgage payment so it’s easy to overlook. But In many cases, people find that they can find better prices if they just take the time to look around. You can start is by checking rate comparisons, which many states publish online. There are tons of places online for comparing insurance rates.
It’s a good idea to make sure you’re not underinsured. Insufficient coverage is a sure way to lose money if you file a claim. Ask your insurer for a customized estimate of your home’s replacement cost. This will protect you against a possible surge in the price of materials that can follow a natural disaster.
If you haven’t already, try consolidating your car insurance with your homeowner’s. An umbrella policy is a good way to save some money. You may be able to save as much as 30% when you combine auto and homeowner’s insurance with the same company. Check with each of your carriers to see what savings they can offer by consolidating your insurance needs.
Raising your deductible will certainly lower your monthly premium. Most people have a $500 deductible on their standard homeowner’s policy. In most cases you can enjoy significant savings by increasing your deductible to $1000. Of course, you should remember that you will have to come up with $1000, instead of $500 when you file a claim.
Ask your agent about these and other possible ways you can save on your insurance.