A thorough insurance policy should be your priority as a homeowner but it can be costly at times. Keep in mind that the best insurance companies offer protection for you and your home and that’s what you’re paying for. Instead of brushing it aside, it’s best to think of ways on how you can save more money on your homeowners insurance policy. There are sure-fire ways to do this and you will find that after a few of these tips, you find homeowners insurance more affordable and practical.
Understand Your Coverage
This is very important to know because most people do not understand how it works. It’s not always necessary to insure your home for the price that you bought it for. You need to remind yourself that you bought the house and the land together and the price that you paid runs for both.
Now, for your insurance, you only need to include the cost of repair and rebuilding your home. You don’t need to worry about insuring the land, hence, the cost of your premiums should also be less than the amount of the property. However, although you are trying to save money, it’s best not to under-insure your home.
Think of getting a home insurance policy as shopping for clothes or gadgets. There are many choices out there and you have to get to the bottom of every detail to make sure you’re getting the best one. In the insurance industry, there are plenty of companies that would be more than happy to be your insurer.
When you work with an independent agency like Wellcovered it’s easy to learn what other options you have because we have multiple insurance carriers to work with. Give us a call and we can let you know what other carriers might be interested in your business and have more affordable rates for your needs.
Get a Higher Deductible
You may think that it’s a little bit risky to raise your deductible, but it’s also the best and easiest way to get lower premiums. The rule is that the higher the amount that you’re willing to shell out for repair and reconstruction, the lower you have to pay your insurer. So, if you are willing to raise your deductible from $200 to $1,000, you can avail of up to 25 percent discount on your premiums. That’s a lot of savings.
Have Multiple Policies
Look for insurance companies that offer discounts on multiple policies. As a homeowner, you might want to consider insuring your car, motorcycle and other properties through the same company to get a discount. What you can do is to play your hand and negotiate with the insurance agent on how much they are willing to slash off of your premiums by getting more policies.
The best insurance companies would make sure that their clients are comfortable with the price of their premiums. At Wellcovered Insurance, we aim to make our client's life easier with policies that are tailored to their needs. You can get more information about our products and services by calling our agency at (386) 218-4951. Get your free quote today by CLICKING HERE.