How To Save Money on Homeowner’s Insurance


Buying a home could be the biggest purchase you ever make in your life. It will typically take years of saving for a down payment, and even then you will still likely be stuck with a mortgage payment for a very long time. 

Unfortunately, the costs of owning a home don’t stop there. One major cost of owning a home that many people don’t even really consider is homeowner’s insurance. Homeowner’s insurance is a must if you want to protect your home from disasters, but at the same time its expenses can really add up. 

Depending on your location, you could be faced with a wide variety of potential disasters, and definitely you want to be covered. For example, those that live by the river may want to protect themselves from flood damage, while people looking at Fort Myers homes for sale may want to look into protecting themselves from wind damage due to hurricanes. 

How To Save Money on Homeowner’s Insurance

In addition, California real estate owners will want to protect themselves from fire damage while Midwestern home owners will want to protect themselves from the winds of a tornado. So with homeowner’s insurance being so vital, how you can you cut corners and save on it? Here are a few tips to lower the cost of your homeowner’s insurance.

Compare Prices

Comparing prices should be a practice that you employ when making all buying decisions, but it especially applies when shopping for something as large as homeowner’s insurance. 

When making such a big financial commitment it is important to check over all of your options. If you jump at the first deal offered to you, then you may lock yourself into a bad deal when there was a much better offer available. 

Different insurance agencies have different prices, so make sure that you check over all of your options to ensure you get the best deal. In addition, some agencies offer bonuses or discounts to certain groups of people like veterans or retirees, so be thorough in your search.

Buy Bundles

Another way to save money on your homeowner’s insurance is to buy bundles from your insurance providers. This means that instead of buying your different insurance plans like auto and motorcycle from different providers, you buy them all from one provider. 

Usually insurance agencies will offer you big discounts if you purchase more than one plan from them, something that could save you lots of money. Do some research on what bundles are offered and how much you could save, as finding the right bundle could not only save you lots on homeowner’s insurance but in many other areas as well. 

In addition, bundles could save you a lot of hassle, as you’ll only have to deal with one insurance company for all of your issues. Try to get a good bundle to cover all of your valuables as it could be a huge help for you.

Stay Loyal

Once you’ve found the best deal possible for your homeowner’s insurance, it’s important to stay loyal and committed. Many insurance agencies will give discounts for being a long-term customer of theirs, and these discounts can really add up. 

Although you may be tempted to switch to slightly cheaper plans throughout the years, the discounts they offer likely won’t be better than the ones you would receive from loyalty plans. Before you buy your plan you should see what kind of loyalty plans and bonuses your agency offers. This should be a major factor in deciding which plan you eventually go with. In many cases, being loyal pays off big time.

Make Your Home Safer

One way you can save a lot on your homeowner’s insurance is by making your home safer and improving your security. The safer your home is the less of a risk it is to insure it, meaning your costs will go down. 

This is why it is cheaper to insure homes that have things like advanced smoke alarms, as they are much less susceptible to fire damage. Another idea could be to reinforce your roof, shutters, and windows in order to make them less susceptible to wind and hail damage. 

In addition, protecting your home from break-ins and robbery can be another way to lower the price of your homeowner’s insurance. Security systems are becoming more advanced these days and can be a great deterrent for criminals. If you aren’t willing to invest in a security system, then simply ensure that each of your entrances has multiple locks and can’t be broken into. Insurance providers could provide you big discounts if you have these types of protections in place, so it is worth looking into.

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