Savings tips: Home insurance

Savings tips: Home insurance

Home insurance quotes can seem pretty high when you first look at them – but they can also be lowered if you work hard enough! When you invest in protecting your home against damage, you're lowering the odds that it will eventually incur costs that have to be reimbursed by the insurance company. That, in turn, helps to lower your payments.

Listed below are just a few ways that you can bring your home insurance payments down by way of a small addition or alteration to your home. Some of them may seem like intensive projects, but the payoff is always worth it: your home will be safer, and your payments will be lower.

Consider installing security features

The first way to decrease the amount you pay for home insurance is to invest in a security system. You can simply buy trip wires that make noises or send a signal when someone crosses over a boundary on your property, or you can invest in a "monitored" security system that sends out a message to the local police department whenever something questionable seems to have occurred at your home. Either way, your family will be safer as a result – and the odds of theft or vandalism occurring on your property will be significantly lowered, helping to move your insurance payments down to a minimum. 

"Disaster-proof" your home

Of course, you can also keep your home insurance low by minimizing the chances that your home will be damaged by the weather – so consider and investigate options for strengthening your windows, roof, and other elements of the home that could be potentially damaged by inclement conditions. 

Combine different forms of insurance coverage

Think about getting a meal at your favorite restaurant – when you bundle together the sandwich with a drink or potato chips or French fries, you get to pay a bit less than they would all cost separately if added up, right? It's the same thing with home insurance. By bundling, you can significantly lower overall costs.

Many insurance providers will be able to offer you home and auto insurance coverage – and perhaps even term life insurance coverage, as well – all as part of one package. By bundling these payments together, and electing to receive all your coverage from the same provider, you're doing the same thing you do when you get a value meal at a restaurant – you're saving a significant amount of money by choosing to purchase a number of separate services all at once. There may be no easier way to save on your home insurance than this!

Maintain a strong credit score

Here's another thing that many people aren't aware affects the rate you get on your home insurance: your personal credit score. That means there's a way to decrease what you pay on insurance without even having to do anything to your home or land itself. By merely keeping up with your payments and building yourself the strongest credit score possible, you'll be putting a big step toward earning yourself the lowest premium possible in regards to your home. 

All these tasks are important for their own reasons – security systems and disaster protection will help you to protect your family, other insurance coverage will help you protect your other investments, and the credit score will help you in innumerable other ways both professional and personal. Yet they'll all also help you save money, by bringing your home insurance costs to a minimum. For any homeowner trying to keep their monthly expenses as low as possible, that's well worth the effort that any of these additions or tasks may demand.