The price of homeowner’s insurance will vary based on each company’s polices. However, there are 12 ways to reduce the overall costs.

Understanding Your Homeowners Insurance Policies

Shop and Compare

Although comparison shopping can be time-consuming, you can save a lot of money if you are patient. Many consumers find great rates by spending time doing online comparisons and also talking brokers who can provide information from several different insurance companies. 

Increase the Deductible

By choosing a larger deductible, your premiums could decrease by a significant percentage. But keep in mind that if you ever do need to make a claim you will have to pay more when you file it. 

Consider the Homes Consturction

The condition of electrical wiring, type of pipe used and age of the roof can all be contributing factors which affect insurance costs. By updating old wiring and replacing aged plumbing you can reduce your annual costs. Also, keep in mind that most insurance companies want to make sure your roof has been replaced within the past 20 year. 

Buy a Bundled Policy

Many companies that offer liability, automotive, and homeowner’s insurance will lower their rates if a consumer buys multiple polices. However, when shopping for two or more plans, ensure that the combined price is less than other companies’ single policies.

Small Improvements that can have big Impacts

Seek Various Discounts

Most insurers offer different discounts. For example, if you are retired, you may get a discount because statistically your home is less likely to be targeted for burglary.

Install Safety Solutions and Security Equipment

Contact an insurance agent and gather information about disaster resistant solutions for your home. Some insurance providers will lower the premiums if a home is built with durable materials and at times can be as simple as installing storm shutters. Also, installing a simple burglar alarm and a smoke detectors can lower your insurance rates. If a technician installs a highly advanced burglar system, fire alarm, and sprinkler system on your property, your premiums could be reduced by up to 15 percent.

Know Your Insurance Coverage

Maintain a Good Credit Score

A great credit score will lower your monthly rates because most agencies use credit reports to determine the price of their policies. To improve your score, pay all of your bills on time and never obtain credit when you don’t need it.

Keep Your Insurer

If you have been working with the same insurance company for multiple years, you may not want to switch providers. By being a loyal customer, your insurer may give you a special discount, which can lower your premiums by five percent on average.

Study the Policy Limits

A good policy must cover all major additions that you plan to make to the home. However, you should not pay for coverage that you won’t need. By reviewing each policy thoroughly, you can save money by avoiding unnecessary coverage or fees.

How can Alair Homes help?

Reputable builders who have been in the business for years should have developed a network of insurance companies in their local area that they can provide you. As well, if you’re considering home updates that will reduce your policy costs, and improve your way of life, give us a call. We’d be happy to come out and provide you with valuable information on which you can make good decisions.