Choosing Insurance Doesn't Have To Be Stressful

Negotiating Your Way To Lower Homeowners Insurance Rates

Every homeowner should have their own insurance policy in place to protect themselves from various disasters like fires, damage from a fallen tree, or a busted water pipe. Each homeowners insurance quotes their rates based on a number of different criteria. As a consumer, you want to save as much money as possible, and much like other bills you pay, you may be able to get a reduced rate on your insurance with a few simple tips.

Bundling Services

If you have cable and Internet at home, you're probably familiar with how companies now allow you to "bundle" your services together to get a lower monthly payment. Many larger insurance companies offer this as well. Ask your agent about adding in car insurance and even life insurance to get a less expensive premium.

Increasing Deductibles

Some people may not want to pay a higher deductible when it's time to file a claim, but when it comes to getting a lower premium, higher deductibles will usually result. If you have a higher deductible, your overall cost each month should be reduced significantly. In fact, some homeowners who choose a much larger deductible in the range of about $10,000 can save as much as 35% on their homeowners insurance bill in many cases.

Stay Loyal

Once you've found and decided to stick with one insurance company, find out if they offer any discounts to customers who hold a policy with them for a certain period of time. Companies appreciate loyal customers, particularly those who are making recurring payments. While they may not offer you this discount outright, if you contact them and they see you have a history with them, there may be options for you to get lower rates.

Inform of Updates

If you've gotten a new roof, new windows, or a new HVAC system recently, let your homeowners insurance company know. Many will give you discounts for making major improvements and upgrades. The insurance company will probably ask to see a copy of the bill or invoice, so have it ready to show them proof. If you're doing things to improve the overall structure and value of your home, it's a good thing, and most companies will discount for that.

Maintain Good Credit

Many insurance companies look at the policy holder's credit score as a measure of risk. If you have good credit, make sure the homeowners insurance company knows this. In some cases, they can run your credit score or report and be able to add in more discounts for customers with good to excellent credit ratings.


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