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5 Ways To Lower The Cost Of Your Homeowners Insurance

5 Ways to Lower the Cost of Your Homeowners Insurance

1. Bundle

Chances are your insurance agency handles numerous types of coverage. If you purchase various policies through one office, you will most likely be able to earn discounted rates. You may be able to save as much as 15% by purchasing multiple policies from the same agent. Some agencies also apply loyalty discounts to return customers. It’s smart to shop, but your current agent may still be able to provide the best price.

2. Be House Smart

Before you purchase a home, consider it through the eyes of an insurance agent. Certain features of a home or neighborhood may be a money saver if they are present. Electrical and plumbing systems less than ten years old or amenities like having a fire hydrant close by will sweeten the insurance deal. You may want to contact a plumber like to ask about having a quality check done to help provide assurance that it is a good plumbing system. A modern electrical system can also allow you to make savings on your power bills. This even makes it easier to switch utility providers further down the line. For example, if you notice that TriEagle Energy are able to offer you a better deal than your current power provider, making the switch is easy. For more information about switching energy providers, head to the Home Energy Club website.

3. Look for the CLUE

Did you know a house comes with an insurance record that you can view? It’s called a Comprehensive Loss Underwriting Exchange (or CLUE for short.) CLUE reports contain the history of insurance claims filed against a property. This document may help you determine possible problems before you purchase.

4. Raise Your Deductible

While it may look a bit scary on paper at first, raising your deductible, if only by a few hundred dollars, could save you up to 25% in insurance costs. Since your deductible is only paid in a loss, you save more money month to month. However, some coverages, like disasters, require separate deductibles. Check with your insurance agent about how many deductible you need to raise before making the decision.

5. Make Security a Priority

Many agents reward homeowners for installing high-level security systems that connect to local responders. You can also earn discounts for installing devices like sprinkler systems and fire alarms in your home. Not only will these help keep you protected, the rewards also make it well worth doing! Safety has to be a priority when it comes to your house. How much you save depends on the special discounts offered by your agent. Check in with your agency regularly for current discounts, especially when you renew your policy. You can add an extra layer to your security by installing such things as a stainless steel screen to improve security on your sliding doors.

Questions about homeowners insurance? Call us at 407-965-4253.

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