You can Pay Less for Home Insurance if you are careful. Unfortunately Home Insurance – just like car insurance – is one of those expenses that simply can’t be avoided. That does not mean however that you should not pay attention to just how much it costs you and look for ways to save. Yes, you want coverage that will address all that needs to, but there is no need to overpay for it. Here are seven ways that you could cut your home insurance premiums significantly:
Shop Around
It almost always pays to shop around, and that wisdom extends to home insurance as well. However, thanks to the Internet, you no longer have to spend hours on the phone listening to insurance salesperson’s pitches just to compare quotes and coverages between several different insurance companies. There are now a number of websites that allow you compare quotes from various different companies that can cut that ‘shopping time’ in half (or even better). You may find an option that allows you to Pay Less for Home Insurance.
Buy Your Insurance in One Place
Most insurance companies do not specialise in a single form of insurance, they offer them all. And in many cases if you buy several policies from the same company they will offer you a ‘bundle discount’ that can add up to a significant cost savings.
Keep an Eye on Your Credit Record
There a number of factors that affect the rate you pay for any insurance policy. And whether it is fair or not these days those include your current credit score. The higher your credit score, the better deal you are likely to get on home insurance, so it’s just another reason why you should keep an eye on it.
Improve Your Home Security
Most South Africans are aware of the fact that their home insurance premiums can be lowered by improving the security of their home. But the type of security that is in place can make a significant difference as well. And while that does not mean you should go out and invest in a kennel full of guard dogs it may help to lower your insurance costs if you upgrade that alarm system you’ve had in place for more than a decade. Increasing or updating your security will allow you to Pay Less on Home Insurance.
Increase Your Deductible
If you have a good security system in place and live in an area not prone to weather extremes then you may want to look at raising your home insurance deductible in order to save on your monthly premiums. Deductibles are the amount of money you have to pay toward a loss before your insurance company starts to pay a claim and if you can afford to raise your deductible by 25% you could, in some cases, save up to 50% on your monthly Home insurance bill.
Don’t Insurance Hop
Some people will switch insurance companies more than once or twice in order to get a lower rate. But before you do, make sure that the potential savings will be worth the hassle. Usually if you stick with one insurance company for several years you will be offered a premium decrease in return for your loyalty, and that may outweigh the short term benefits of ‘insurance-hopping’.
Ask
It’s very convenient to shop online for insurance and even more convenient to pay for it that way. However, if you want to reduce your premium making a phone call to speak with a human representative at your insurance company may be a good idea. Often insurance companies offer discounts they do not always advertise so sometimes simply asking how you can lower your monthly home insurance premiums you may be able to just that. Speak to one of our specialist consultants to find out how You can Pay Less on Home Insurance today.
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