WAYS TO CUT COST OF HOMEOWNER INSURANCE

Homeowner’s insurance is something every homeowner must have in California. However, have you ever stopped to see just how much money your current homeowner’s insurance policy is costing you? It could be costing you more than it should.

Panorama Insurance Agency in Northridge, CA Provides ways to cut Costs of Homeowners Policy

Here are 6 ways to cut the cost of homeowner’s insurance, so you can save money and take some right off your premiums.

1. Increase Your Deductible

One of the fastest ways to cut your homeowner’s insurance cost is to raise your deductible. The deductible is the amount you will have to pay when you file a claim. So, let’s say you currently have a $500 deductible. If you raise that amount to $1000, you can save up to 20%.

When you raise your deductible, you are putting that extra money back into your pocket every month. Before doing this, however, make sure you will still be able to afford a higher deductible in case you do end up having to file a claim.

2. Improve Your Home Security

Even something as basic as a home security system can also save you money on your homeowner’s insurance. A burglar alarm, smoke detector, and even deadbolts on your doors can get you up to a five percent discount on your insurance. Having a monitored burglar and fire alarm can save you between 15 and 20%.

3. Avoid Smaller Claims

If something small happens, you may be tempted to file a claim. However, it might be in your best interest to skip those smaller claims for now. Sometimes it just makes more sense to pay out-of-pocket for minor issues. If you don’t file any claims for a specific amount of time, some insurance companies offer you a discount.

4. Inquire About Discounts

It never hurts to talk to your insurance company in California and inquire about any discounts available to you to help you lower your insurance and save some money. Some discounts offered by insurance companies include a discount for non-smokers, you recently purchased the home, you pay your premiums automatically through a bank account, you have chosen paperless billing, or if you are working at a specific job.

5. Home Improvement Discounts

If you have made any improvements to your home then you’ve done work already to save some money on your insurance. Even relatively small upgrades like installing storm shutters can go a long way in protecting your home and can result in big savings.

Ask your insurance company to come out and evaluate your home improvements and see if you qualify for any kind of discount on your homeowner’s insurance.

6. Combine Your Insurances

You can also see how much you can save by bundling your insurance. If you already have auto insurance, see if you can bundle it in with your homeowner’s insurance for a discount. This can save you up to 15% off your premiums.

For more information on homeowner’s insurance or how you can save some money on your premiums, contact the experts at Panorama Northridge, California today.