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Hopefully, fire or other disasters never strike your home, but a reliable homeowners insurance policy can help you recover if the unexpected occurs. While this coverage is a crucial investment in your future, no one wants to pay more than necessary. Fortunately, there are ways to lower your premiums without leaving gaps in your coverage.

4 Ways to Lower Your Homeowners Insurance Premiums

1. Compare Prices

Many people stay with the insurer they chose after buying their home, assuming that they have the best deal available. However, rates fluctuate constantly, and another carrier may offer lower costs or better coverage than your current policy. Shopping around and comparing prices from other carriers before renewing your policy could save you considerable money.

2. Install a Security System

homeowners insuranceHomeowners insurance premiums depend on the risk that you’ll file a claim, so protecting your home will usually lower costs. Installing a monitored security system will not only deter thieves and other criminals, but it might also discount your coverage.

3. Increase Your Deductible

Often, plans with higher deductibles have lower monthly premiums, which makes them the most affordable option in the long run. However, be sure you can afford to pay your share if you do file a claim.

4. Build Up Your Credit

Insurance providers assume that homeowners with poor credit are a higher risk, so increasing your score can bring down your premiums. Avoid charging more than you can pay in a single month, pay down credit card debt, and make your monthly payments on time.

 

For nearly 120 years, Northern Kentucky Home Insurance Company in Alexandria, KY, has helped local homeowners protect what matters most. As an insurance cooperative, this company is owned by policyholders like you and managed for your benefit. Visit their website for information about the products they offer and call (859) 635-2500 to request your free homeowners insurance quote.

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