As Bob Dylan sang in 1963, “The Times They Are A-Changin’”, and now in 2020 the song still holds true—we are facing drastic changes, and with these changes come a new set of challenges for just about everyone around the globe! With people needing to stretch their assets further and further, it becomes a necessity to trim down their expenses anywhere they can, and homeowner’s insurance is sometimes one of those expenses that some don’t know can be reduced through being proactive and by working with your insurance carrier!
First way to reduce the cost of your insurance would be to bundle any existing policies that you might have, such as if you have an Auto Insurance policy with another company—it would be worth it to ask for a discount on them both if you were to bundle them together with a single company! Insurance companies love it when you give them more business—if you can convince them you will switch for a discount, they might take you up on it!
Raising your credit score can also vastly help your Homeowner’s Insurance rates since insurers use this information to determine your premium payments! Depending on the insurance company and the state you reside, your credit history can increase your Homeowner’s Insurance rates by almost 30%! Make sure that you keep up with your payments and keep the amount of credit you use to a minimum in order to benefit from a lower rate!
Making your home safer can also help you save money on Homeowner’s Insurance! If you have an up-to-date home security system, a damage resistant roof (Metal roofing is a good example), or anything that makes your house a safer place to be in you can probably use it to help get a discount on your premium rates! Just make sure that the cost of the upgrade does not outweigh the discount amount!
There are many other ways to gain a discount with an insurance company, and I find it worth it to always ask! It’s better to ask than to wonder!