8 Easy Tips for Cheaper Homeowners Insurance

8 Easy Tips for Cheaper Homeowners Insurance

No one likes to pay for homeowners insurance, unfortunately our current society requires that we have homeowners insurance. It is not necessary to pay excessive amounts each month in premiums though. The tips which follow can help to reduce your premiums dramatically.

Do not settle for the first quote you get

Comparing the quotes from a number of different insurance companies can help you to find a much better premium. As obvious as this seems not everyone takes the time to check. Research has shown that many people simply renew their current policies each year or only get one or two new quotes to compare. Most insurance web sites will happily compare a large number of policies for you. This is the easiest and quickest way to find the best premium for the cover you want.

Get your insurance quotes and buy online.

Some insurance companies will give you a discount if you buy your policy through their online shopping cart.

Consolidate you policies as much as possible.

You can also get a loyalty discount if you get your contents and building insurance under the same homeowners insurance policy

Pay a year in advance if possible.

It is possible to pay your insurance premiums a month at a time, however, you are often charged interest of some description if you take this option. Arrange to pay a full years premiums and you may get a discount or at least will not be charged interest.

Be careful what you claim for

Claiming for every little thing that comes along makes you seem a higher risk to you insurer. Rather only claim for the things that you are unable to replace on your own pocket or are well above your excess payments. Claiming will also veto your no claims bonuses. Whilst you are entitled to claim for everything covered in your insurance policy, first decide if the increase in your premiums it will cause is really worth it.

Opt for a voluntary excess payment

The excess payment is the threshold below which insurance companies will not pay out and the amount you are liable for in case of a claim. Some companies offer you the option to increase the excess amount you are willing to pay and will decrease your premiums in return.

Make your home secure

Fitting secure door locks, window locks, security gates and alarm systems decreases your risk profile and can help decrease your homeowners insurance premiums quite dramatically. Ask your insurer what you could do to get extra discounts.

Only take the cover you really need.

A lot of people are over insured. You can save yourself a lot of money by only taking out insurance that you really need. Cutting out the added extras like travel insurance and free legal advice can decrease the cost of your premiums. If you take a close look at your insurance, it is surprising how much you are paying for that you never use.

Homeowners insurance is a very good thing to have, but it can be very expensive if you are not careful. Take the time to get enough quotes and cut your premium down as much as possible, you will save a lot of money that way.

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