How to Get Low Homeowners Insurance Rates

How to Get Low Homeowners Insurance Rates

If you just bought a home, congratulations! Living in your own home is a big step up from renting. Owning your own home comes with a lot of perks. Ranging from the extra space and more privacy to the relaxing feeling of cooking whenever you want! One downside is that it comes with a ton of expenses. Aside from paying for your mortgage, you also have to pay for your taxes and home maintenance.

Combined with your utilities, your monthly home expenses should add up. That’s why it’s important to have homeowners insurance to reduce the burden the cost of repairs. To make sure you get affordable coverage, you need to know how to get low homeowners insurance.

In this article, we outline how to find the best homeowners insurance rates. Read these tips to protect your home from disasters and save money on your monthly insurance bill.

Raise Your Deductible

One way to get lower homeowners insurance rates is to raise your deductible. By doing this, you are taking on more of the financial responsibility in the event of a claim, which lowers the risk for the insurance company. In turn, they will charge you a lower premium. It is important to make sure that you have the financial ability to pay the higher deductible if you do have a claim.

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Make Your Home More Secure

There are some things you can do to make your home more secure. One thing you can do is install a security system. This will help to deter criminals and can also help to lower your rates. Another thing you can do is to install deadbolt locks on all of your doors.

You can also add additional lighting to your home and you can make sure to keep your home well-maintained. This will help to show insurers that you are taking care of your home and that you are more likely to make a claim.

Skip Small Claims

Homeowners insurance rates are largely determined by the amount of risk you pose to the insurance company. The more claims you have, the higher your rates will be. Therefore, one of the best ways to get low homeowners insurance rates is to simply avoid making small claims.

If you have a minor incident, it may be cheaper to pay for the damages out-of-pocket than to go through your homeowners insurance. This also applies to any deductibles you may have. If the repairs are less than your deductible, it is usually cheaper to pay for them without going through your insurance company.

Build Your Credit Score

A good credit score can save you money on your premiums, so it’s worth the effort to improve your score. You can get a free credit report from each of the three major credit bureaus to see where you stand.

If you have a low credit score, there are a few things you can do to improve it. Make sure you pay all of your bills on time, and keep your balances low on your credit cards. You can also try to get a credit limit increase, which will improve your credit utilization ratio.

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Dispute any negative information on your credit report, and keep an eye on your score so you can see your progress. Visit to learn more about increasing your credit score.

Bundle Your Auto And Home Insurance

Bundle your auto and home insurance together to get low homeowners insurance rates. This is because most insurance companies offer discounts if you have more than one policy with them. For example, you may get a discount of up to 25% if you bundle your auto and home insurance together. To get the best deal, compare rates from different companies and see how much you can save by bundling your policies.

Paying Annually For a Low Homeowners Insurance

There are a few things you can do to help get the lowest rates possible. One is to pay your premium annually instead of monthly. This usually results in a discount from the insurer. Another is to take advantage of any discounts that may be available, such as for installing smoke detectors or burglar alarms.

Account For Home Improvements

Most home insurance companies will give you a break on your rates if you have made improvements to your home that decrease the risk of problems. For example, installing a new roof or security system. If you have done any work to make your home more “green,” such as adding insulation, you may also get a discount.

This is because updated homes are often less likely to experience a total loss in the event of a disaster. To account for home improvements, you will need to provide your insurer with a list of all the updates you have made. You should also keep receipts and other documentation as proof of the improvements.

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Look For Additional Discounts

When you are looking for homeowners insurance, be sure to ask about any additional discounts that may be available. Many companies offer discounts for things like having a security system, being claims free, and more.

Often, you can save a significant amount of money by taking advantage of these discounts. Others may offer a discount if you purchase your policy online. It’s always worth checking to see if any additional discounts are available.

Get Your Low Home Insurance Rate Today

There are many factors that come into play when insurance companies set rates for low homeowners insurance. Some of these factors are within your control, while others are not.

By taking some of these steps, you can save money on your homeowners insurance policy. Still, it’s important to make sure that you have enough coverage to protect your home and possessions in the event of a disaster.

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