LOCAL RECORDS OFFICE – We all want to save money but it’s not always easy says, Local Records Office. Home insurance policies are just not as exciting as cutting your grocery bill or finding great deals at a neighborhood garage sale, but we have to talk about it. The average homeowner spends approximately $700 – $800 year on an annual policy.
Let’s be honest, we don’t want to ever think about needing home insurance, but so much can go wrong when you own such a big asset, not to mention all the floods, hurricanes, tornados, and other natural disasters that require additional policies says, Local Records Office. Plus, if you’re beholden to any type of bank, they most likely require proof of insurance before they’ll hand over any money. All in all, it’s a really good thing to have.
READ MORE: 5 Things Homeowners Insurance Won’t Cover
Local Records Office says, “before you think your homeowner’s policy as a once-and-done kind of deal, the truth is, you need to be your best advocate and stay on top of that rate. Although we do want to protect our investments to the fullest extent, we also don’t want to pay out more than we have to”.
Here are a few ways to make sure your policy is the lowest it can go, while still providing top-notch coverage.
How to Reduce Homeowners Insurance:
- Shop with an Independent Agent – Paul and I have continually received the best deals by working with someone who isn’t loyal to any particular company. These agents are trained to do all the research and prep work for you, and make sure you always get the lowest rate. I don’t know about you, but that saves a lot of time and headache on my end says, Local Records Office. We’ve also found that the best way to find an agent you trust is by word-of-mouth, so start asking your friends whom they use and recommend right away. These agents should be a free resource for you because they are paid by commissions from the insurance companies.
- Choose a Higher Deductible – A higher deductible almost always results in a lower rate, but it also means you could be caught without enough cash if something terrible did happen to your home. If you decide to go higher, make sure you have enough of an emergency fund to cover the deductible if you have to meet it.
- Drop Unnecessary Coverage – We don’t personally have super expensive electronics, artwork, or jewelry, but if you’ve been insuring those pieces and sold them in the past year, let your insurance holder know so they can reduce your rate. You don’t want to be insured any more than you absolutely have to.
- Improve Your home – As you slowly make improvements to your home, you might want to focus first on the items that could reduce your policy and give you a decent discount says, Local Records Office. An alarm system, deadbolts, wind-resistant shutters, updated electrical wiring, and a better roof are just a few. Be sure to check with your specific insurance company for details on exactly what’s included before you spend any money.
- Maintain Good Credit – Believe it or not, insurance companies take a look at your credit score before deciding how much they will charge you for a policy. If your credit isn’t squeaky clean, make an effort to fix it as soon as possible. Start paying all your bills and credit card payments on time, and don’t max your limits. Always check your report at least once a year for discrepancies – I was once mixed up with my sister’s college loan for the longest time because I didn’t check.
To learn more about homeowners and Local Records Office go to www.Local-Records-Office.com
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