9 Ways to Save on Homeowners Insurance

​You shouldn’t have to sacrifice the right coverage to save money on insurance. There are many different ways in which you can unlock savings opportunities and reduce your premiums. Whether you are on the hunt for a new home, looking to make some improvements or experiencing a new journey in your life, you may be pleasantly surprised by the impact it can have on your policy.

1. Bundle
Often times it makes more sense to have all your insurance needs met by one carrier. It not only simplifies your monthly bills but also eases the financial costs in most cases. If your looking to reduce your premiums and make your life easier, then bundling your policies is the first step. 

2. Compare
Insurance shopping can seem like a chore, but it is worth checking around to make sure you are getting the right coverage at the right price. There is a better way though. Instead of check with each individual insurance carrier you can choose to go with an independent insurance agency such as Insurors of America. An independent agency has the opportunity to check with several different carriers and find the one that matches your needs best. This means you can compare prices without having to go through several different agents and several different quotes. 

3. Buy new(er)
While it might seem like the opposite would be true, buying a new or newer home can actually save you money on homeowners insurance. Newer components and materials in the home means less risk and more savings. So if you are in the market to purchase keep this in mind while you are filtering those searches. 

4. Home Improvements
Rewiring your home reduces the chance of fire. Replacing pipes helps reduce water damage risk. Putting on a new roof improves protection during storms. Even installing a generator can save pipes from bursting. You see the pattern, right? Reducing risk can reduce your premium. Sometimes those costly renovations can have a silver lining. If you have had to make any of these improvements to your home recently, then check with your insurance agent to see if you qualify for a discount. 

5. Security systems
Protecting your family and your home is one of your top priorities. A home security system can greatly improve your chances of deterring an intruder so, naturally, it can qualify for an insurance discount as well. Before making any solid plans for installation check with your insurance provider to see which systems will qualify for a reduction in your premium costs. ​

6. Non-smokers
In many states you can save by being a non-smoker as fire-related home damage due to smoking has still proven to be a very real and all-to-common hazard. It may not be a discount that all insurers offer, but it is something to ask about and see if it is a savings opportunity you can pursue. ​

7. Age
Those that have hit retirement age may qualify for an added discount on homeowners insurance. Retired homeowners generally spend more time around the house so they are more attuned to the home and can spot a problem before it gets out of hand. There is also less change of burglary. If you are 55 or older, this may be a great opportunity to add a little extra money in your pocket to help you pursue your passions during retirement.  

8. Claims-free
If you have had homeowners insurance for an extended amount of time and have not had to file a claim then you may qualify for a claims-free discount (much like a good driver discount). Taking care of your home and averting disaster does not go unrewarded. 

9. Increase deductible
For the sake of transparency we will also include that you can increase your deductible and reduce your upfront cost. It is, however, one of the less desirable options. Although you would be saving money on your premium, if an accident or disaster does happen, you would have more out-of-pocket expenses. For example, a claim that resulted in a $15,000 worth of damage would pay out $14,000 for a deductible of $1,000 or $12,500 for a deductible of $2,500. If you do choose to increase your deductible, it is highly recommended that you have that deductible amount set aside in case of an unfortunate event. 

So now you have uncovered quite a few discount options for your policies. It’s time to put an agent to work for you!
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Get the answers to your questions, save some money on your premiums, and make the most of your coverage. As an independent agent we are committed to you. We will handle comparing the different carriers and different policies so you can make the right decision based on your needs. Make the most of your time and your money with just one simple call, 417-863-1900.