Buying a new home? Taking some time to meet with your insurance provider before closing can help make sure you and your family have the right coverage for one of the most important purchases you’ll ever make! Here are two important ways to save money on this important coverage:
Raise your deductible. The higher your deductible, the less you’ll pay in premiums. This applies to most types of insurance! You may be surprised to learn just how much you could save on your homeowner’s insurance premiums by raising your deductible from $250 to $500 or from $500 to $1,000. The key, of course, is to have enough money set aside so you can pay your deductible in the event you have to make a claim.
Ask about discounts. Does your home have a security system? Do you have auto insurance with the same insurance company? Insurance companies offer a variety of discounts, so it always pays to ask.
For more tips to keeping homeowner’s insurance costs under control, go here.