10 Cheap Home Insurance Hacks You Need to Know

Interested in home insurance hacks to save money? Our top ten tips and tricks can save you money today.

Everyone has unique home insurance needs, but while insurance needs vary, one thing that stays constant is the desire to save money. So whether you have multiple rental properties, or simply want to cut down on your monthly spending, there are lots of ways to save. That is why we have put together a list of ten cheap home insurance hacks to help you to get the best home insurance deal!

Shop Around 

As of 2022, there are over 490 homeowners insurance companies from which to choose. You do not have to get a quote from all 490 companies when shopping for your policy, but it pays to get a quote from the leading companies in your area.

Policy Bundling 

If you currently hold multiple insurance policies – for example, auto and pet insurance, it can pay to bundle your homeowners plan with the same provider. Not all insurance providers offer each type of insurance, but the more plans you can bundle, the more you can save.

Improve Home Security Features

A safer home means less risk for home insurance companies, so the more security features you install, the bigger the discount you can receive. The most significant discounts come from installing CO2 detectors, smoke detectors, sprinklers, and home alarm systems.

Skip Monthly and Pay Annually

Paying your policy in monthly installments usually results in an installment fee. Paying for your plan for a year eliminates that fee and gives you an upfront payment discount. 

Stick with the Same Insurance Provider

Company loyalty gets rewarded. The longer you stay with your insurance provider, the more leverage you have to request a discounted rate

Improve Your Credit

Having a low credit score means that companies see you as more likely to miss payments on your policy. Before you apply for a home insurance policy, know your credit score. If you have a poor credit score, work on paying off debt and build your credit score back up to reduce your rate. 

Don’t Over-Cover Your Home

Know the homeowner’s insurance coverage limits you need to insure the necessities and to meet any requirements by your mortgage company. Buy the coverage you need and don’t over-cover your home, or your premiums will be higher than necessary. 

If You Are House Shopping, Know The Area 

Where your house is situated significantly impacts your homeowner insurance rate. For example, living in an area with high crime rates means higher insurance premiums because it is riskier to insure your home. 

Install An Automatic Shutoff

One of the most common claims on homeowners insurance is for flood damage. Installing an automatic shutoff helps mitigate the chance of flood damage by cutting off the water when it senses moisture. Less chance of water damage claims means lower insurance premiums. 

Do Not File For The Little Things

Your homeowner insurance exists to cover expenses for damage to home property should certain events occur. Each time you file a claim on your insurance, there is a good chance your insurance premium will increase. Keep your policy premiums from going up by paying for the small things yourself instead of going through insurance.

Home Insurance Hacks to Save Today!

Buying home insurance does not have to cost a small fortune, but with the right hacks, you can save big without skimping on coverage!

Share

Speak Your Mind

*