Minimize Home Insurance Costs

Home insurance is a necessity if you want to protect everything you have worked so hard for but it can be fairly expensive. There are many ways to reduce the costs each month and year, and this post will show you several ways in which you can do so.

Install Security System – Installing a burglar alarm that is monitored by a reputable company or directly linked to your local police station will help to lower your annual premiums by as much as 5%.

Install Monitored Security Alarms – If you install a monitored security alarm you could save 10% or more on your annual premiums.

Raise your Deductible – Most people are unaware that having a higher deductible will help to lower the annual premiums on your home insurance. The only issue with having a higher deductible is small claims such as broken windows or minor water damage will need to be covered by the homeowner because it will be more expensive to make a claim.

Combine Insurance Policies – Bundling is an extremely effective way to save money when it comes to your insurance policy. Much like your home phone, internet and cable, combining home and auto insurance could save you hundreds of dollars each year.

Eliminate Potential Hazards – Did you know that having a swimming pool or trampoline can increase your annual insurance premiums? By removing these hazards, you can save on your premium each year.

Pay your Mortgage more Quickly – This is probably easier said than done but typically an insurance company will lower your annual premiums if the mortgage is paid off. Your insurance company might think you will take better care of your home if you fully own it.

Review your Existing Policy – It’s important to review your insurance policy on an annual basis. You may be able to save a great deal of money when you shop around for the best price and could reduce the amount you currently pay if you have made changes to your home.

If you would like to learn more ways to save money on your home insurance please contact Will Marshall Insurance Brokers today. There are many ways you can reduce your premiums and we can help!

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