Home insurance protects against the unexpected, including fires and theft. However, depending on your risk factor, keeping up with the premiums might become challenging. Find out how to reduce the expense in this guide.

4 Tips for Lowering Your Home Insurance Premium

1. Install Security Systems

Enhancing property security reduces the likelihood you’ll need to file a claim. In turn, this helps the insurance company recognize you as a low-risk client, which reduces your premiums.

Start by installing surveillance cameras around the house to deter potential thieves. Replace smoke alarms older than 15 years to ensure early fire detection.

2. Raise the Deductible

The deductible is the amount you pay out-of-pocket before coverage kicks in. Any increase results in automatic savings on monthly premiums.

Keep in mind that you must be comfortable meeting the deductible in case of a claim. Check that you have the amount set aside in a bank account to ensure you can afford the change.

3. Seek Out Discounts

Most companies offer discounts if you bundle policies to encourage you to get all of your coverage from one provider. If you have a farm, for example, combine that policy with your home’s insurance. Working with a single insurer also makes paying premiums more convenient since you only pay through one platform.

4. Maintain Strong Credit

Healthy credit shows you’re reliable in making payments and tend to avoid risks. This can increase an insurance company’s willingness to lower your premiums.

If your credit is below 670, improve it by paying more bills on time and keeping old cards open to lengthen your credit history.

Get the coverage you seek by reaching out to Flathead Farm Mutual Insurance Company in Kalispell, MT. This locally owned insurance company has been serving Montana since 1907, offering coverage for farms, ranches, homes, and seasonal dwellings. Each policy is completely customizable and tailored to suit the specific needs of the property. They process everything locally and have friendly representatives always available to answer questions. Visit their website to learn more about home insurance or call (406) 752-7500 to discuss your needs.