One of the most common questions we hear today is “can I save money on my homeowners insurance?” While the base answer is yes, it is important to keep in mind that just like with anything else, cutting corners could be dangerous if you cut from the wrong areas. There are other less risky ways to save on your home insurance costs if you know what to do. Rather than taking the leap into searching for a new insurance provider, first take the time to look at your current policy and see if there is room for improvement.
By taking a closer look at your current policy you may be able to save more than you might realize. The following three areas offer a great way to get more savings out of your current home insurance policy without having to resort to changing carriers.
Prepare Your Home for Potential Disasters
One of the main purposes of home insurance is to help cover your costs following catastrophic events. Fire and tornadoes are only two of the forces of nature that are typically covered. Make sure your home has sufficient fire alarms and consider adding a fire sprinkler system for potential discounts on your home insurance premiums. Adding a burglar alarm and proper locks can also help you snag a break as well.
Raise Your Deductible
If you are willing to take a degree of risk, then opting for a higher deductible may be another means of lowering your home insurance policy costs. The less you pay out of pocket, the more you will pay out in the event of something misfortunate taking place. Make sure to check with your insurance provider to see if the savings you would realize with an increased deductible would be worth the risk.
Bundling Your Insurance
This is one option that we take seriously here at The Hoffman Agency. By bundling your separate insurance policies such as your auto, home, and life, you can typically realize a decent discount. Of course, discount translates into a lower premium. When you come in and talk to us we will take the time to explain to you the benefits of bundling your insurance and how it can save you money.
By following each of these three suggestions you may just find a substantial savings on your home insurance costs. Make sure that you do not cut corners on any repairs or preparations. If you do, you might just find that you have placed yourself in an even more risky spot. It is always more conducive to invest properly the first time than to pay to repair the damages done during a previous repair.
Why take a chance on skimpy coverage or resort to farming out your policies to many different carriers when you can get them all under one roof and at a price that can’t be beat? Contact us today for more info on how The Hoffman Agency can help you get a handle on your insurance costs.
