3 Ways To Save On Your Home Insurance

Is the cost of home insurance stretching your budget a bit too thin? If so, you should know that there truly is no reason for you to continue struggling with your monthly insurance payments. This is because there are several ways that you can go about lowering your insurance premiums. Below you will learn about three of these money saving opportunities.

Install An Active Alarm System

When requesting a quote for home insurance, the insurance company will use a rather complicated algorithm to determine how high the risk is that you will file a claim against this policy. The higher the risk is determined to be, the higher your quote will be. Therefore, one of the most effective ways to lower your monthly premiums is to lower the risk that your home will be burglarized.

Installing an active alarm system can help you to manage the risk of theft inside your home. As a reward for your proactive approach to this problem, most insurance companies will offer you a rather significant discount on your monthly premiums. However, you should be aware that in order to qualify for this discount, you may need to provide periodic proof that the alarm system is being actively monitored by a reputable company.

Purchase Multiple Policies

Chances are, your home is just one of the many things that you insure. For instance, in addition to your homeowners policy, you may also car auto insurance and life insurance. If each of these policies is currently being held by a separate insurance company, you may be missing out an extremely easy way to save money on all of your insurance needs. This is because many insurance companies (such as Welsh Agency Inc) will reward their loyal customers with a discount on all of their policies when they choose to purchase more than one policy through their company.

Only Insure Your Home, Not Your Land

The fact is, no one is going to walk away with your plot of land in the middle of the night. No matter how many trees may fall on your property, or how many wind storms your land endures, this plot of land will always be suitable for building. Therefore, there truly is no need for you to include the value of your land when selecting a home insurance policy. Unfortunately, far too many people make the mistake of including the value of this land in the estimated cost to rebuild their home. As a result, these individuals will pay a much higher premium since their premium is based on the overall value of their policy.

If you wish to secure the lowest possible premiums, you need to ensure that you are paying only to insure your home, rather than your home and the land it sits on.