Home insurance is an effective way to protect your home and loved ones against potential damage to your property, and it typically includes liability coverage in case of an accident in your home or on your property. With home insurance rates steadily increasing, the following guide will help you pinpoint ways to save some money while staying safe.
How to Lower Home Insurance Costs
1. Make Your Home Safer
Ensuring that your home is as secure and disaster-proof as possible will show that you’re a low-risk client, and therefore lower your home insurance costs. You can speak to your insurance agent about specific measures to take, like adding storm shutters and reinforcing your roof. You might also consider updating your HVAC system to minimize the risk of water or fire damage.
Before you invest in any upgrades, ask your agent how much you can save so you can calculate if its a sound investment.
2. Compare Policies
You might think it takes too much time to do your homework, but with new online insurance portals, the task of comparing policies is straightforward. If you’re overwhelmed by the options, start by getting and comparing quotes from three insurers.
Ask friends for recommendations, and check to see if your state’s insurance commissioner provides a complaint index, which will inform you about the frequency of complaints about a particular agency. Keep in mind that you might qualify for discounted rates through your employer or another affiliation.
Before choosing an agency, prepare questions for one of their representatives. You might ask them how they’d lower your costs and how they can personalize their services to your needs.
2. Increase Your Deductible
In general, increasing your deductible will lower your premium. Your deductible is how much you pay toward a claim before your home insurance kicks in. According to experts, raising your deductible to $1000 or more could end up saving you up to 25% on premiums.
Before increasing your deductible, speak to your agent about how much it might save you on your premium, and also consider the type of damage that would lead you to file a claim. If your deductible is $500, but you wouldn’t file a claim for $500, that’s a good sign that you can increase your deductible.
Protect your home and loved ones in unforeseeable circumstances with Texas County Mutual Insurance in Licking, MO. For over 100 years, they’ve helped customers safeguard what they value most through home insurance, farm insurance, and more. They tailor each insurance product to the customer’s needs, including profession and location. Because they are a mutual company, they don’t answer to shareholders but policyholders, following industry best practices and protecting your investments now and into the future. Schedule an appointment or get a quote by calling (573) 674-3125 today. Read about this dependable company online.