Reduce Your Homeowners Insurance Premiums With These Tips

If you are looking for ways to save some money, know that it's possible to lower your homeowners insurance premiums with some simple tips.

Have A Home Security System Installed

Before you rush into getting a home security system, contact your agent to find out what kind of systems will qualify for a discount. There are many types of security systems out there, and simply having one may not be enough. For example, a basic security system that notifies your smart phone about motion sensors and doors being opened may not be enough. To get a discount, you may need a monitored home security system that will react for you when alarms go off.

A monitored home security system may save you 20% off your homeowners insurance premiums. Not only will you get the bigger discount by choosing a monitored system, but you will have peace of mind that your home is secured.

Avoid Making Claims When Possible

Are you great at doing DIY projects around your house? If so, you may want to think twice about making an insurance claim with your homeowners insurance policy to get money for your projects. It may seem counterintuitive to have insurance and not use it, but every time you make a claim, it can translate into paying higher premiums. If you have a higher deductible, your deductible amount may even be higher than the amount it would cost to do the repair yourself.

Learn to pick when it's an appropriate time to use your insurance. Minor damage that you can repair yourself could be done on your own. Major damage from flooding or weather related issues may justify making a claim.

Ask About Loyalty Discounts

Most insurance companies will give discounts if you maintain a policy with them for a long time. You may have to ask for these discounts before they will give them to you. If you are approaching a milestone, like being with the insurance company for 5, 10, or 15 years, ask if you can receive a lower premium. You may be able to get a discount for simply staying with the company for so long.

If you make changes to your home that can lower your premiums, be sure to call your agent and let them know. Even a small decrease in home insurance premiums can cause an improvement to pay for itself over the years. For more tips on lowering your insurance premiums, speak with your insurance agent.