Budget-conscious homeowners know there are often ways to save on goods and services, but might wonder when it comes to homeowners insurance, “how much?” Insurance is complicated, and homeowners insurance cost is determined by many factors. Luckily, despite how complex it might seem, there are some ways you can save on your homeowners insurance.
Here are some budget-friendly insurance tips:
Leverage your history
Your insurance company will ask for information about prior insurance history when creating a quote for your homeowners policy. If you’re buying your first home, you likely won’t have prior homeowners insurance history to share.
However, if you’ve ever had renters insurance, you can use this history to your advantage. You may be eligible for a discount on your quote if you’ve never made a claim in the past.
Bundle your insurance policies
Most insurance companies offer discounts for bundling different types of insurance with the same provider. If your homeowners insurance provider offers car insurance, for example, it might be worth it to switch your auto policy to them and bundle.
Standard homeowners insurance policies include dwelling coverage, liability coverage and personal property coverage. However, they might also offer additional coverage at a discount compared to what you pay elsewhere. For example, if you have personal liability insurance with another provider, you may be able to switch and lower your homeowners premium at the same time.
Keep up with renewals
Gaps in insurance history can sometimes equal higher premiums. If you’ve ever fallen behind on payments and had a policy canceled, your new insurance provider may see that as a higher risk and increase your premiums.
As long as you keep any existing policies current, you’re more likely to avoid penalties from a new provider. You may even be offered a discount for being fully insured for a long period of time without gaps.
These are only a few tips for saving on your homeowners insurance policy. Shop around for the best quote, and inquire with an insurance agent about any special discounts you might be eligible for.
About the Author
Sheida Rezazadeh
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Our philosophy is simple: clients come first. We pledge to be in constant communication with our clients, keeping them fully informed throughout the entire buying or selling process. We believe that if you’re not left with an amazing experience, we haven’t done our job. We don’t measure success through achievements or awards, but through the satisfaction of our clients.
About Me:
With over two decades of experience in the real estate industry, I derive immense satisfaction from assisting clients in realizing their real estate aspirations. My journey in this field commenced with personal investments and the management of multiple properties, providing invaluable insights into the dynamics of the real estate market. Over the years, I have refined my negotiation skills, accumulating extensive knowledge and experience that empower me to deliver exceptional service to my clients.
As a seasoned professional, I specialize in residential, luxury, multi-unit, and commercial real estate. I possess the acumen to secure top dollar for sellers and the best possible prices for buyers. Recognizing the significance of creating a home sanctuary as a mother and wife, I understand the security that real estate investments can bring. It's not just a transaction; it's a life-changing experience, and I am dedicated to guiding my clients through every step of the process.
Leading a team of highly-seasoned real estate professionals, we are committed to providing personalized service. We take immense pride in building enduring relationships with our clients and tirelessly work on their behalf to help them achieve their real estate goals. Our team comprises the best and brightest in the industry, consistently striving to lead in research, innovation, and consumer education.
As a trusted resource in the complex world of real estate, I am devoted to providing the best and most timely information to my clients. My team and I stay up-to-date with the latest trends and developments in the industry, utilizing this knowledge to help our clients make informed decisions. It's not just about buying or selling a home; it's about building a better future for you and your family, and I am honored to be a part of that journey.