How to lower the cost of home insurance

June 10th, 2014 by admin

Home insurance is a necessity and can protect your property from thefts, weather and other harmful damage. Luckily, there are some ways that you can lower your cost of home insurance. Take a look at some helpful suggestions below:

  • Have an annual review: It's essential to keep your insurance agent informed during an annual review. Let him or her know about any changes to your home, which could include installing a new roof. Some policies give you credit for these home improvements and it's great to have open communication with your agent. 
  • Install safety features: "Some companies offer a modest discount for installing smoke detectors, burglar alarms and dead-bolt locks," writes Sally Rummel of the Tri County Times. "Some insurers offer discounts for sprinkler systems, fire and burglar alarms that ring at the police, fire or other monitoring stations."
  • Practice good credit: It's important to maintain good credit practices. Essentially, if you have a good credit score, you'll be more likely to have a good insurance score. Some ways to achieve good credit include avoiding debt, paying your bills on time and managing your credit cards responsibly.
  • Protect your home: Making your home resistant to natural disasters may be able to lower your insurance rates. To do so, buy a backup for your sump pump, install storm windows and gutters, and repair your roof. These steps will help you prevent losses, which will come back to you in the form of lower premiums.

For more money-saving tips, be sure to follow our blog and, as always, contact Fundy Mutual Insurance to receive an affordable home insurance quote.