How to Reduce the Cost of Homeowners Insurance
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Today, everyone is looking for ways that they can save money.
One expense that often gets overlooked is that of homeowners insurance.
There are several things one can look at to help lower the cost of homeowners insurance, according to NerdWallet.
For example, one of the most obvious is to raise the deductible of your policy.
By increasing your deductible from $500 to $1,000, you can save as much as 20%.
A word of advice: make sure that you have that $1,000 decidable available so if you ever need it, you will be covered.
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Make your home secure by not only having deadbolt locks, a burglar alarm, or cameras installed, and also fire suppressant equipment installed, such as smoke detectors and sprinkler systems as well.
If you would like to save more, having a monitoring service to monitor your home for fire and burglary can save you money as well.
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If you have some small incidents that occurred rather than opening a claim, it may be cheaper to pay for the repair yourself and not report it.
Why you may ask?
Well, some insurance companies offer discounts if you remain claim-free for a certain period of time.
You can also save some money by accounting for home improvements such as storm shutters, updating the electrical system, or upgrading the house plumbing. Other improvements that can make your home more resistant towards being damaged, helps, too.
By removing playground equipment that is no longer being used, a swimming pool that you no longer utilize, and other high risk items around your home, can lead to a discount as well.
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When looking to help reduce your homeowners insurance not only should you look at your insurance policy, but also look at your car insurance and life insurance policies.
Many Insurance companies offer discounts if you purchase other types of policies from them.
Finally, like anything you do when trying to save money, shop around.
The internet makes this so much easier as many of the insurance companies can give you instant online quotes by just entering some basic information.
By doing these easy steps, you will be surprised at how much your premium for homeowners insurance will be reduced and without much effort.
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