Insurance can get expensive, especially when you have to pay insurance for your home, vehicles, and more. If you need to save money, there are things you can do to lower the amount you pay for your insurance policy. Below are four of these things to help you get started.
Look at Your Deductibles
The first place to start out with is your insurance deductibles. This is the amount of money you will have to pay before the insurance company takes over. If you have your deductibles set low you will pay more money for your insurance. For example, if you have hail damage on your roof and the roofer is charging you $800.00 and your deductible is $200 the insurance company would pay $600 of the bill. Consider how much you can afford and if possible set your deductibles higher.
Do Not Make Small Claims
Even though your insurance company will cover a lot of things, such as water damage in your home or damage to your roof, you should not be so quick at making a claim if you have something small happen. This is because each time you make a small claim you exhaust your policy. When this happens, you will have less money when it comes to paying a bigger loss. You want to save the money in case something happens that would cost you a lot of money.
Install Home Security System
If your install a home security system in your home your insurance company may lower your premiums. This is because if you use security systems this can prevent damage to your home. For example, smoke detectors can prevent your entire home from burning to the ground, and a good security system will prevent burglars from getting into your home and causing damage and steeling expensive things, such as jewelry, antiques, etc.
Merge Your Policies
If you have several insurance policies with different insurance companies, you should merge them all together with one company. An insurance company can handle things like your homeowner's insurance, health insurance, auto insurance, and life insurance. Your insurance company may give you a discount, and they may also have policies in one package that would be less expensive than paying a bunch of single policies. This also makes things much easier on you.
Talk with an insurance agent, like one from Northeast Insurance Agency, about this information to see how much money you can save on your homeowner's insurance.