Your home is likely your largest investment, which is why it’s so important to ensure it’s protected from the unexpected. Although homeowners insurance is yet another thing to add to your long list of bills, it’s a necessity. If a fire damages your home, heavy rains ruin your roof, or an intruder breaks in and steals your jewelry, you can have peace of mind knowing your home and your valuables are insured.
Homeowners insurance can be quite a hefty investment, but it doesn’t have to be. By taking the time to shop around and learn about the many different options available to you, you can save big on your insurance! Keep reading to learn how you can save on homeowners insurance.
Shop Around and Compare Options
Finding the right homeowners insurance policy takes time and research. It’s important to have all your ducks in a row, as the saying goes, before making an impulse decision and regretting it down the road. There are so many insurance agencies and policies to learn about, so make sure you meet or speak with as many agencies as you can to compare each of their policies. Make a pros and cons list of what each plan provides and what it doesn’t, as well as how much it will cost you.
Get Home and Auto Policies from the Same Company
Many insurance companies will take a percentage off your premiums if you have more than one policy with them. It’s best to ask insurers you’re interested in rather than assuming they provide this advantage. In some cases, the discounts can range as high as 15 percent, says the Insurance Information Institute, which can total some significant savings on two necessary policies.
Agree to a Higher Deductible
By agreeing to a higher deductible, you can reduce your annual premium significantly. The more you raise your deductible, the more you will save. It’s important to remember, though, that a higher deductible can mean a higher out-of-pocket cost to you if you ever need to make a claim, so weigh that when considering different policy options.
Safer Is Cheaper
Something as small as a fire extinguisher can help you save on homeowners insurance. Having new wiring or electrical systems installed or upgrading your home to include a connected sprinkler system or fire alarm that automatically alerts first responders can cut your premium by as much as 20 percent, says the III. Ask insurance companies about their discounts on safety features – you’d be surprised at how much you can save.
If you need to find your dream home before finding the right homeowners insurance policy, you’ve come to the right place. Leibowitz Realty Group’s can help you search the selection of great homes throughout the Palm Beach County region and find the right property for you and your family. Learn more or start your search today by calling 561-262-0721 or 561-262-0722.