Homeowner's insurance is an important part of protecting your most valuable investment: Your home! Homeowner's insurance also protects your belongings--electronics, furniture and family heirlooms--from loss or damage.
And though home insurance is an important purchase, you can still find a comprehensive policy for a price that won't stretch your wallet. The Insurance Information Institute, an independent insurance resource for consumers, recommends doing the following:
Shopping around. There are a myriad of insurance companies and brokers out there, all of which sell similar home insurance policies for different prices. But don't waste time flipping through the Yellow Pages to contact four or five agents--shop online here--and receive multiple insurance quotes from local agents.
Taking advantage of discounts. You may be eligible for an array of discounts which can lower your home insurance premium. Be sure to ask prospective home insurance agents about discounts for:
Buying multiple policies through the same insurer (like home and auto) Living within 15 miles of a fire station Installing electronic burglar alarms Installing multiple smoke detectors Updating plumbing and heating equipment
Increasing your deductible. The higher your deductible--the amount you pay on a claim before the insurance company takes over--the lower your premium will drop. Just remember to select a deductible you can afford; you don't want to break the bank if you need to file a claim.
Making routine home repairs. Invest some time, money and elbow grease into making repairs to your roof, plumbing and heating systems and the like. It will reduce the chances of an in-home catastrophe, and your agent will reward you by lowering your premium.
Maintaining good credit. Many homeowners are surprised to learn about the correlation between insurance rates and their credit history. And while some states are questioning whether or not to throw credit rating out of the premium-determining bucket, right now, it's still a widespread practice. So pay those bills in full and on time!
You've got the tips--now start saving!
Now that you're armed with the proper insurance saving artillery, you're ready to start shopping. You can start here by entering your zip code into our quote box. You'll receive free home insurance quotes from local agents, allowing you to compare policy types and premium prices and pick the policy that best fits your needs.
