You put so much into your home—and not just financially. You also invest your time and care. Rather than risk a fire or other unfortunate incident occurring that would put all that money and effort in jeopardy, it’s smart to get homeowners insurance to cover potential damages. By following the tips below, you can have the peace of mind of knowing the property is protected while keeping costs down.

Paying Too Much for Homeowners Insurance? Try This

1. Choose a Higher Deductible

Most homeowners insurance policies come with a fixed deductible—usually ranging from $500 to $1,500. If you were to up the amount you were willing to pay out-of-pocket after an incident, the insurance company would likely offer reduced monthly premiums in return. 

2. Maintain Strong Credit

Premiums are determined by the underwriting process, which considers a variety of factors. While each company utilizes its own formula, the majority of providers include a policyholder's credit rating. Typically, they view subpar credit scores as a sign of risk-taking, which causes them to adjust the premium to be more expensive. If your credit score is average or below, try to raise it by prioritizing on-time payments, reducing total debt, and limiting your total number of credit accounts. 

3. Install a Security System

Theft accounts for over 98% of property damage claims. For that reason, many companies offer steep premium reductions if homeowners reduce the risk of burglary by installing a security system. This can also help you feel better about leaving your home to go on vacation if you don’t have a house-sitter.

4. Seek Out Discounts

In addition to the above, insurance companies usually offer a wide range of special discounts. Some plans offer incentives for installing smoke detectors and fire alarm systems, while others cut rates for certain demographics, like retirees. Additionally, you may find savings by bundling various kinds of insurance under one provider. Speak with your agent to identify these opportunities. 

Want to cut your homeowners insurance costs? Contact Fritch Insurance in Gage County, NE, to discuss options. For 20 years, they've worked closely with residents, farmers, and businesses across southeast Nebraska and northeast Kansas. Visit their website for more information regarding their carriers, or request your quote today at (402) 223-3312.