|
Shop Around
It'll take some time, but could save you a good sum of money. Ask your friends,
check the Yellow Pages or contact your state insurance department. States
often make information available on typical rates charged by major insurers
and many states provide the frequency of consumer complaints by company.
Raise Your Deductible
Deductibles are the amount of money you have to pay toward a loss before your
insurance company starts to pay a claim, according to the terms of your policy.
The higher your deductible, the more money you can save on your premiums.
Nowadays, most insurance companies recommend a deductible of at least $500.
Buy your home and auto policies from the same insurer
Some companies that sell homeowners, auto and liability coverage will take
5 to 15 percent off your premium if you buy two or more policies from them.
But make certain this combined price is lower than buying the different coverages
from different companies.
Make your home more disaster resistant
Find out from your insurance agent or company representative what steps you
can take to make your home more resistant to windstorms and other natural
disasters. You may be able to save on your premiums by adding storm shutters,
reinforcing your roof or buying stronger roofing materials.
Improve your home security
You can usually get discounts of at least 5 percent for a smoke detector,
burglar alarm or dead-bolt locks. Some companies offer to cut your premium
by as much as 15 or 20 percent if you install a sophisticated sprinkler system
and a fire and burglar alarm that rings at the police, fire or other monitoring
stations.
Read all Twelve Ways to Lower Your Homeowners Insurance
Costs
|
