Try These Home Insurance Savings Tips
If you're like me, you are always looking for ways to reduce your monthly budget. One way is to reduce the costs of home insurance. Below are a few tips that may save you some money and add a few dollars back into your pocket:
1. Set a higher deductible to lower your premiums; but, make sure you have enough cash to cover the larger deductible.
2. Many insurance companies offer discounts for things such as: smoke detectors, burglar alarms, third-party alarm monitoring systems, dead bolts, fire extinguishers, and Neighborhood Watch programs.
3. If you go without a claim for three to five years you may be able to earn a warrant discount.
4. Premiums will be higher if the fire stations and fire hydrants are too far away.
5. Earn “multiple coverage” discounts by using one carrier for all insurance needs.
6. Some companies offer discounts to people who have paid off their mortgage.
7. You may also get a discount if your home was built or rebuilt within the past 10-15 years.
8. Check out early retirement, non-smoker, and live-in-housekeeper discounts.
9. Finally, check and see if your insurance carrier rewards for longevity of service.
How to Collect: You are partly responsible for loss recovery. To prevent forfeiture of coverage and increase your ability to get a settlement: Notify carrier immediately after a loss. Make repairs to prevent further damage. List personal items damaged. Show an insurance rep the damage. Complete a statement explaining circumstances for the insurance company.