Your home keeps your family and belongings safe, which is why protecting it is a worthwhile investment. But a home insurance policy doesn’t have to break the bank. Below are several ways to lower your monthly premium payments. 

4 Tips for Reducing Home Insurance Costs

1. Install Safety & Security Systems

Many insurance carriers will give discounts if you have systems installed to keep your home safe and secure. These include burglar alarms, smoke and carbon monoxide detectors, and surveillance cameras. Ask your home insurance provider which brands of safety and security equipment would make you eligible for discounts before installing them.

2. Take Advantage of Discounts

There are a host of discounts that can lower your premiums. For example, you could qualify for one if you renew each year with the same carrier. Other providers may offer a reduction to retirees and those over the age of 55. If you work in a certain field, like as a teacher, nurse, or first responder, additional discounts may be available to you.

3. Increase the Deductible

Your deductible is the amount you pay out of pocket before your home insurance coverage kicks in. Increasing your deductible can have a significant savings impact on how much your premiums will be. 

4. Bundle Insurance Policies

Another way to reduce rates is by going through just one carrier. If you have auto insurance with one provider, they may award you lower premiums if you also take out a home insurance policy. Compare the costs of what the rates would be on their own to a bundled rate before committing to anything. 

Since 1945, Reid Insurance Group in Lovington, NM, has been the area’s trusted agency for reliable and affordable coverage. As an independent firm, they can shop around for the best rates from the nation’s leading home insurance providers, including Allstate®, Progressive®, and New Mexico Mutual®. For a free, no-obligation quote, call (575) 396-3645. Go online to learn more about the full lineup of services.