4 Tips To Decrease Your Homeowners' Insurance Premiums

If your house is burglarized or a pipe breaks and floods a room, your homeowners' insurance will cover the cost of replacing your belongings or making repairs. Your homeowners' insurance is a valuable safety net, but most people don't file claims very often, so there is no reason to pay more in premiums than you have to. Use the following tips to lower your homeowners' insurance costs:

Increase Your Deductible

Just like auto insurance, your homeowners' insurance will include a deductible that you will have to pay out of pocket before your insurance company will start paying anything for repairs or to replace your belongings. Many people make the mistake of choosing the lowest deductible possible, but doing this means that your insurance premiums will be much higher. If you want to save money, choose the highest deductible that you can afford and then keep that amount in your emergency fund in case it is needed.

Buy All of Your Insurance Policies from the Same Company

Insurance companies appreciate loyal customers and they typically reward them with discounts if they hold multiple insurance policies. If you're already paying for auto insurance, life insurance, and homeowners' insurance, you can save yourself some money by transferring all of your policies to one company. Check with each insurance company that you currently do business with to see which one will give you the best deal if you bundle your policies.

Make Your Home Safer

Your homeowners' insurance premiums are typically based on how much of a risk the insurance company thinks your home is to insure. You can cut your premiums and make your home safer at the same time by doing a few simple things. Consider having a monitored alarm system installed to help deter criminals and prevent burglaries from happening, make sure that there are smoke detectors in every room in your home, and think about installing a fire sprinkler system to help protect your home from a fire. When you make any of these improvements to make your home safer, contact your insurance company to let them know about the changes so you can qualify for lower premiums.

Shop Around

If you have a mortgage you will need homeowners' insurance, but don't be hasty when purchasing a policy. Homeowners' insurance rates can vary greatly between different insurance companies, so it is in your best interest to get quotes from several companies before buying your home insurance policy. This will insure that you get the best deal possible and are not spending more than you have to for appropriate insurance coverage.

For more information, visit websites like http://www.unitedsecurityagency.com.