Wednesday, March 28, 2012

How to Save up to $1100 Each Year on Homeowners Insurance

You've heard about ways to save money on homeowners insurance before. Shave a little cash here and a little there and you've lowered your premiums. Is it really worth the time and effort just to save a few bucks? How much can you really save? Well, that depends on a great many factors such as the home, where you live and how far you are willing to go to save money. If you take a few minutes to read through this article, you can learn some great tips for how to save up to $1100 each year on homeowners insurance.

Home Safety and Security
Home safety and security are important for not only the safety of you and your family, but also for lower rates on your home insurance. Safety and security are tied to a few basic things: fire, theft and vandalism. Homes that have more safeguards in place qualify for lower rates. That means smoke alarms, fire extinguishers, sprinkler systems, deadbolt locks, outside lighting and a security system can all pay for themselves through lower homeowners insurance rates. It can also be helpful to have a neighborhood watch. It helps build community relationships, guards against vandalism and theft, and can reduce your insurance premiums with some companies. Not only do these things pay for themselves and more over time, but they keep you, your family and your home safe and secure.

Reinforce Your Home Against the Elements
If you live in areas that are at a high risk for certain perils such as hurricanes, tornadoes and earthquakes, you will pay more for your homeowners insurance. However, there are things you can do that will help you save money. Storm shutters are an affordable option to begin the process. It can also benefit you to have a roofing contractor consult with you on what exactly you can do to reinforce your roof. If in an earthquake prone area, you will want to make sure your home meets or exceeds building codes for structural strength. A strong home can better withstand a natural disaster. It may take upfront money to get your home up to the level it needs to be, but it will pay off down the road with cheaper homeowners insurance rates and a reduced likelihood of having to pay that deductible to repair your home.

Take Advantage of Discounts
A great way to increase your savings is to understand what it takes to get as many discounts as possible on your policy. Some companies offer as many as 40 discounts for policies that range from a few dollars off per month to 25 percent off your premiums. There are discounts for:
• Bundling auto and other policies with your home insurance
• Specific occupations
• Retiring
• Staying loyal to your insurance company
• Marriage
• Paying premiums in full rather than installments
• Having premiums deducted from bank account

This is a short list, so take a few minutes to look through a couple of insurance company websites to see a complete list of the specific discounts they offer.

Pay Attention to Changes in Your Life and Environment
Changes are constant and they can have an impact on how much you pay for your homeowners insurance. It's not up to the insurance company to keep up with these changes; it is up to you to inform them of these changes. Even changes you may not think important to your homeowners insurance may lower your rates. For instance, if you get married, your rates may drop. If you change jobs to one that garners a discount, tell your insurance company immediately. If a fire hydrant is placed closer to your home, your rates can drop. If you switch from well water to municipal water, you may get a discount. If a fire station is built closer to your home or goes from volunteer to paid, you can save money.

Online Price Comparisons
Saving money means finding the best bargain. How can you do that without comparison shopping? Luckily, you can now comparison shop online. This quickens the process and gives you more options for comparison. When shopping, be sure you are looking at respectable insurance companies with a strong history of good customer service and a variety of policy offerings. To find the best price among the strongest candidates, get online quotes. Quotes will provide you with the prices you need to make a comparison and find the biggest savings.

You can use our free rate quote tool to get as many as 10 or more quotes in minutes. The more quotes you get the better. Yes, by doing the things mentioned above and comparing rates, you can save as much as $1,100 on your homeowners insurance.

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