Are you a financially cautious homeowner who is looking to save some money without sacrificing the current home insurance coverage limits? There is nothing to be ashamed of if you want to play well with your hard earned money. Moreover, you need not sacrifice the privileges you used to get just because you’re paying less. The current home insurance industry is experiencing a deadly competition, and if you’re wise enough and do your homework properly, you’ll certainly win away the best possible deal. Here are three hacks to slash down your insurance costs while keeping up with the benefits.
1. Bundle your insurance coverage: Nowadays, many home and car insurance companies like Liberty Mutual, Progressive, and Allstate offer bundled insurance policies at additional discounts. By doing this, you combine both your auto and home insurance policies for a single monthly premium. Such an offer is always a win-win for both the insurance carrier, and the insured since the company leverages additional profit from higher premiums and the customer is benefited from the discounts. However, make sure that the benefits you used to get aren’t getting compromised.
2. Play with your deductibles: If you don’t drive in a high-risk crowded city, then you can consider raising your deductible. The same way, if your home isn’t located in an area infamous for thefts, or in a hurricane-affected zone, you can think about raising your deductible. And perhaps you know very well that the higher your deductible is, the lower your monthly payments will be. According to Zillow.com, the option to raise your deductible can save you up to 15-percent on your monthly premiums.
3. Work with a reputable insurance carrier: Large insurance firms like State Farm or NationWide don’t require to push hard for business. This means that they’ll never try to lure you away with attractive discounts. However, on the other hand, small yet reputable insurance companies will work harder to get your business and hence will offer you good rates and a broader coverage.
At times, the home insurance industry can seem like navigating troubled waters. However, with a bit persistence, you can certainly avail a great rate, wonderful coverage, and complete peace of mind.