Porcupine Real Estate Blog
Cost-Cutting Tips For Home Insurance
Use One Insurance Company For Everything
Most insurance companies offer more than one type of insurance. This means that they love customers who bundle their policies. Bundling your home, auto and life insurance with one company can help to save you some cash.
Own Your Home
Yes, paying your mortgage off completely sounds like a feat. Once the mortgage is paid off, however, you’ll have lower insurance premiums. This is for the simple reason that insurance companies feel that once you own the home, you’ll be more mindful of taking care of it.
Think Before You Build
Building an addition on a home or putting in a swimming pool may sound like a great idea at first, but you’ll need to think of how these construction projects will affect your premiums. A swimming pool raises your liability risk. Wood structures are considered highly flammable and cost more to insure. Many things that you put in your home can drive up the cost of your policy.
Review Your Policy Often
You always have the right to do some comparison shopping once you get an insurance quote from one company. The place you work for may even offer some sort of group rate for insurance. Associations that you belong to may also be able to help save you some money. Do a little ground work and you may be able to save big just by comparing policies and levels of coverage.
Assess Your Valuables
The whole point of insurance is for you to be able to replace your valuables if damaged or stolen. If items in your home have changed, you may want to reassess the contents of your home and just how much coverage you need. If you have less to replace, you’ll save on your insurance premiums because the value of your policy will go down.