Homeowners insurance is necessary to protect a home against damage, and most people assume the premiums cannot change. However, several strategies can reduce this expense. Insurance companies reward improvements and efforts to stay safe by lowering your monthly rate, and below are a few ways to achieve this.

How to Save On Homeowners Insurance

1. Improve Your Credit

Many insurers use your credit report and history to assume how likely you are to file a claim, which leads to a higher premium. This is why you should raise your credit score as much as possible. Begin paying off debts to lower your debt-to-income ratio, and refinance high-interest liabilities so that they’re manageable. It may take time, but insurers will see your efforts and reward them.

2. Boost Security

Any upgrades that make your home safer are attractive to insurance companies. Installing an alarm system, adding a privacy fence, or upgrading locks will reduce your chances of a break-in. You can also add a fire sprinkler system, flood detectors on sump pumps, and other features that will alert you of issues before they can harm the property. Insurance companies assume that your home will experience less damage with these improvements.

3. Raise the Deductible

The deductible is the amount of money you must pay before the insurance takes over to repair issues. If you’re in an area that’s not prone to natural disasters and feel comfortable about your risk of fire or water damage, ask for a higher deductible. Since the insurance company won’t have to provide as much money after a disaster, they’ll give you lower monthly premiums. However, you’re taking a risk and should consult with your mortgage lender to ensure you meet any homeowners insurance requirements.

4. Bundle Policies

Insurance companies welcome more business and may give you a discount if you move your auto, life, commercial, and other plans to them. You’ll likely enjoy more significant deals on policy, as well as your homeowners insurance. This also allows you to handle claims more efficiently, as you will only have to speak to a single company.

Whenever you need homeowners insurance or any other plan, contact Hummel & Plum Insurance Agency. These professionals offer policies for renters, cars, farms, and more. They’re proud to serve Chillicothe, OH, residents, and will work closely with you to find a plan that meets your needs. Call (740) 773-1620 to speak with a representative. Visit the website to learn more about their services. Also, connect on Facebook for news and updates.