Maintaining your homeowners insurance is necessary to ensure you have the ability to weather any storm that threatens your family’s abode. So, how do you reduce the costs? Below, you’ll find five ways you can reduce the cost of your homeowners insurance premium.
1. Pay Your Insurance Annually
The option to pay your home insurance monthly is convenient because you don’t have to spend as much at one time. However, it isn’t the cheapest way to pay for your homeowners insurance policy. By paying your premium monthly, you agree to pay for installment fees and fees associated with making the payment each month. With one payment annually, you eliminate these little fees that add up over time.
2. Enhance Your Security
The fewer risks your home is exposed to, the less costly it likely is to insure your home. When you choose to add additional defense mechanisms to your home, your insurance company may reward you. Consider adding the following to help reduce the cost of your homeowners insurance:
- Storm shutters
- Deadbolt locks
- Alarm system
- Motion sensor lighting
- Additional roof braces
Every measure you take reduces the likelihood that you will incur damage to your home or lose property due to theft, which helps reduce the cost of your insurance.
3. Improve Your Credit Rating
Your credit rating affects your insurance credit score. When you have a lower credit rating, you will likely pay more for your homeowners insurance. Fortunately, by improving your credit rating, you can increase your insurance credit score, which can help you save on the cost of your insurance.
4. Increase Your Insurance Deductible
When you take on more financial responsibility, your insurance company views you as a lower risk because you have skin in the game, essentially. By increasing your insurance deductible, you can effectively reduce the cost of your homeowners insurance policy. Of course, it is essential that you still maintain a deductible that is affordable.
5. Purchase All Insurance Products From the Same Company
It’s no secret that businesses value loyal customers who purchase multiple products. In fact, insurers like it so much that they will typically provide their customers with a discount for choosing to spend their hard-earned dollars with them exclusively. So, choose an insurance provider and purchase everything you need from that one company to lock in savings.
Get a quote today. Call Key City Insurance at (760) 241-7375 for more information on Victorville home insurance.