If you believe that all homeowners have to worry about is paying the mortgage and mowing the lawn, think again. Not only are homeowners responsible for expenses like trash removal, real estate taxes, and water service, but they also have to protect their investments. Your mortgage company will want to ensure that you maintain a homeowners insurance policy so that your home will be safe in case a major catastrophe hits. To get the best discount possible on your homeowners insurance premiums, try these inventive ideas.
1. Take Extra Security Precautions - Not only will your mortgage company appreciate you taking additional steps to secure your home, but your homeowners insurance provider will too. So go ahead and get that privacy fence with a locked gate installed, and while you're at it, put up a few surveillance cameras as well. Having a home monitoring system that sounds an alarm if any of your entrances are breached won't just make you feel safer — it will also cause your homeowners insurance premiums to be reduced.
2. Don't Settle On The First Quote - People love convenience, but the money you may possibly save by requesting multiple home insurance quotes is absolutely worth the time and effort. Get insurance quotes from small and large companies, contact insurance brokers, and continue to look until you get a rate that is within your budget. Remember that pricing estimates can change, so it is wise to compare homeowners insurance rates annually.
3. Have Your Home Repaired and Renovated - Sometimes you have to be willing to invest in your home a little in order to get a huge return. Your homeowners insurance company knows all about the leaky pipes in your basement, and your premiums reflect the risk that they perceive they are taking by insuring your home. If you take care of all of the most obvious problems with your home, your home insurance premiums will go down.
Some homeowners pay a high price for homeowners insurance because they live in an area that experiences a lot of crime or just because they happen to reside in a state that has higher rates on average. This is why pursuing savings can make a considerable difference in home insurance premiums. So start contacting home insurance companies for rate comparisons, improve the security on your property, and fix all of those nagging issues with your home so that your policy is as affordable as possible.