Posted on: 2 February 2015
Your home is a valuable asset, but you may be paying too much for your insurance policy. There are things that could be causing high insurance rates that you don't know about, and you could be missing out on a variety of discounts.
If you don't shop around for new insurance annually, you should, because there are often deals you can get just for switching. Here are a few things to consider, and try, to get a lower homeowner's insurance rate.
Check Your Credit
If you have bad credit, this could be costing you. The insurance companies worry you may not make your payments, so they charge you a higher rate. Fixing your credit or looking for inaccurate blemishes that can be removed can help you boost the score quickly. Do these before you start shopping around for new rates and a new policy.
Make a List of Improvements
Does your current insurance provider know about updates you've made to the home? Have you gotten a new roof, new hot water heater, new furnace, or added a home security system? These are all changes, along with many others, that can lower your rate. Make a list and send it to your current policy provider to see if they will lower your rate.
If you are filling out new applications, talk with a representative about these things so you can get a lower rate on your new policy.
Utilize Online Savings Possibilities
Many insurance providers will give you a lower rate just because you filled out the information and agreed to your policy online. They will also give you a credit or discount if you choose to get all of your statements via email, instead of in the regular mail. They can lower costs when they don't have to print statements, pay for mailing supplies, and pay for postage.
These tactics can help you save money with the company that you are already using, and also with new potential home insurance providers. If you think your insurance policy costs far too much money, comparing other companies will allow you to see what your rate could be. Get the quotes from opposing companies and show them to an agent from your current provider, to see if they will match the rate for you or go lower, and then you don't have to switch companies. Get the best protection for the lowest rate. For more information, contact a company like Idris Insurance Brokers Ltd.Share