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 By Yogesh Singh Times are tough and finding ways to save money are always welcome, but often we don’t think of essential expenses such as insurance when considering ways to cut back on those expenses. Here are a few tips for saving money on your home insurance, while still keeping yourself and your home protected – ten things you can do to save money on your home insurance! Shop Around – Just as with any major purchase, shopping around will ensure that you are getting the best deal possible.
Consider A Higher Deductible – A higher deductible will mean a cheaper insurance premium. If your particular financial situation allows you a higher deductible should damage occur to your property, you can save a considerable sum by using this tip. Combine Policies – Most insurance providers offer discounts when you combine policies. This is a particularly popular option for the two insurance policies you most need most-car and home. Install Home Security – If you have a home insurance policy that covers theft and damage due to a break-in, installing a home security system may reduce your premiums. There are other home security measures you can take that may also reduce this rate. Know If You Qualify for Additional Discounts – Some insurance companies offer special discounts for seniors, students, or employees of particular organizations. Checking to see if you qualify for any additional discounts could mean considerable savings. Keep A Good Credit Score – Insurance premiums can be affected by your credit score, so ensuring that you have a good credit rating can reduce your premiums. Use the Same Provider for All Your Insurance – Often insurance companies can offer you discounts if you have existing policies with them. This is also the case for financial institutions that offer insurance, as well as brokers. Look for Comprehensive Coverage – Comprehensive coverage offers you complete protection for a rate that is, in most cases, less than if you were to get each type of coverage separately. This includes basic homeowner’s insurance as well as disaster, theft, and liability coverage, all in one policy. Review Your Policy Often – Your homeowner’s insurance often is fairly short term, and keeping your eyes open for better deals, or re-evaluating whether the type of coverage you currently have is more than you really need, can save you money. The needs of every homeowner may differ and special discounts and savings may apply in certain circumstances. Seeking the professional advice of an insurance expert can help you save a significant amount on your home insurance. _______________________________________________________________________________________________ Yogesh Singh is an Insurance Advisor with UG Insurance. Email your questions to yogi@uginsurance.com or call directly 718-848-7777 to book an appointment for a free Insurance Review with Yogesh. The views expressed above are solely those of the writer and not necessarily that of THE WEST INDIAN Source: http://www.thewestindianonline.com/tips-and-tricks-for-saving-money-on-your-home-insurance/
8 Comments
12/14/2020 12:24:40 pm
I didn't know that your insurance premiums are significantly influenced by your credit score. My wife and I recently purchased a house that is close to where I work, and we want to find some affordable insurance since our credit score dropped when we bought a car last year. We'll find a company that can offer us an affordable policy. 2/7/2021 09:06:37 pm
I appreciated it when you shared that it is great to look for comprehensive coverage that offers you complete protection at an affordable rate. My wife and I are thinking of buying our first house next year as we are expecting our first bundle of joy so we want to be prepared with better accommodation. I will keep in mind to acquire home insurance by looking for the one that has comprehensive coverage. 6/3/2021 10:23:45 pm
I do believe that it is important for us to be mindful of our credit score when applying for home insurance. It makes sense as it will impact our overall budget. I will definitely keep this information in mind for future references. 6/17/2021 07:05:01 am
I want to make sure that my home is properly insured, but I'm not sure how to go about it. It makes sense that I would want to get a nice security system for my home! That seems like a good way to ensure that my home is easier to afford. 6/29/2021 11:27:52 am
I love your tip about combining your home and auto insurance for better rates. I think this would be a great way for me to get the best price on home insurance since I am new to buying. I will definitely be looking for an insurance company that can help me with this! 9/1/2021 01:47:39 pm
It's good to know that you can get the best deal possible when you shop around. My sister and her husband recently moved into their very first home together a couple of weeks ago, and they were telling me last night about how they want to get the right insurance for it. I'll make sure to pass these tips along to them as they search for homeowners insurance to get. 10/7/2021 03:19:59 pm
I appreciate what you said about keeping your credit score high. That seems smart to get lower premiums. I'll have to consider getting a new policy with lower premiums. Leave a Reply. |
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