If you are in the market for home insurance, there are a number of different things you can do to reduce your rate by just shopping around and taking action based on your research. In this article, we are going to provide you with some useful tips and show you how to find the best home insurance rates.
Significance Of Home Insurance Rates
1. Carry multiple insurance policies with the same insurance provider
Insurance companies offer discounts when you bundle multiple insurance policies together. In some cases, you can save up to 30 percent by purchasing your auto insurance and home insurance from the same company. In addition to saving money, it will also provide you with more consistent communication and process for how claims are handled.
2. Increase your deductible
Having a high-deductible policy can save you a lot of money on your home insurance premium cost. You just need to be prepared to pay a higher deductible in the event you have an emergency or other reason for having to file a claim. You will need to weigh the pros and cons of which is your better option. For example, instead of having a $500 to $1,000 deductible, if you go with a $10,000 deductible it could save you up to 35 percent on your insurance premium. However, that is a lot of money to come up with an emergency, so weigh your options carefully. There may be lower amounts than $10,000 that can still offer you significant cost savings.
3. Have an advanced alarm system installed
Having burglar systems, carbon monoxide sensors and fire alarms installed can help to reduce home insurance premiums. These discounts can be even higher when you have a more advanced monitoring system with alert first responders and that reports to a central location.
4. Stay loyal to the same insurance company
You can often receive a loyalty discount of 5 to 10 percent after staying with the same insurance company for three to five years. With some insurance companies you might have to maintain multiple policies are stay claims-free to get their loyalty discount.
5. Have good credit
Having a good credit score may help you get a lower cost home insurance premium. Credit reports are checked by insurance companies to gauge how much a customer might cost them. According to statistics, individuals with higher credit scores also tend to have fewer claims. So if you have good credit you can often get a lower premium on your home insurance. The credit score you will need for a reduced rate will vary from one insurance to the next.
6. Prepare your home for disasters
If the area you live in is prone to natural disasters, like tornadoes or hurricanes, then doing some disaster preparation on your home can get you a discount on your home insurance.
In some states, you can save up to 30 percent by fortifying your home. You may need to meet certain requirements such as pruning trees away from your house or sealing the roof under the shingles. For more information click here at http://www.mymeridianinsurance.com/cincinnati-home-insurance