Your home insurance is one of those things we're glad we have when there's an emergency, but the rest of the time we kind of resent paying. That makes sense, because we already have enough bills stuffing the mailbox every month. Now, there's no way to get coverage for free, but there are some ways you can lower the amount you pay every month for your homeowners insurance. Let's take a look at five ways you can lower your premium:
1. Shop around and compare insurance prices
Nowadays, it's easy to use the Internet to compare rates and coverage between different companies. Just because you've been with the same insurance provider for a while, doesn't mean you can't shop around for a better price. Call or browse in their websites the best deal to lower your home insurance. You can also contact your closest state insurance department, for a list of insurers in your state.
2. Loyal customers get more discounts in insurance rates
When you get a rate, and it's been more than three years that you have used their services, you might qualify for a discount rate in the next coming year. Don't be afraid to ask for a discount, because the chances are that you might be able to negotiate a 5 percent discount on your premium. Remember, the more years you've been with them, the more money you will be saving.
Some insurers will give you a discount between 8 to 10% percent if you've been with them more than five years. Let them know you're shopping around and looking for a monthly price. It's more likely that they'll be willing to lower their rates a bit to keep you on board.
In addition, you could get a discount of as much as 10-15% if you're over 55 years old.
3. Home security equipment can lead to a better discount rate
If you've installed a home security system, insurers know this means you're less likely to be the victim of a crime. Just remember, you don't necessarily have to install a big alarm system. Nowadays the systems are wireless and are easy to install. They have the option to send a text message to your phone if any motion sensor has been disarmed and if there's an intruder. Also smoke detectors, dead-bolt locks, locks for your windows, timers for your lights, and motion-sensing outdoor lights are useful features to add to your home and save some money.
4. Raise your deductible for a smaller monthly payment
Home insurance, as well as a car insurance, have a deductible in case of a break-in, a fire or a natural disaster. If you want to save in a monthly payment, you could raise the deductible to pay less each month. In recent years, Florida hasn't had any hurricanes and any major disasters have happened. Hoping nothing happens this coming summer, you could increase your deductible to get the lower monthly payment.
5. The more insurance plans with them, the better
Insurance companies will offer 5-15% discount if you use them for all your insurance needs (i.e. home, life and auto insurance). This option would turn out to be cheaper than having separate policies for everything you want to insure.
Our FIC Insurance Agency Team
We pride ourselves on the ability to put our customers first. Peter Sabo, the founder of FIC, has said since day one that "each and every customer is part of the FIC family." That same sentiment has resonated with every employee at FIC. As a result, our customer service reflects that disposition. FIC strongly believes that human-to-human communication is essential in delivering the best customer service experience. That is why till this day, a customer representative answers the phone – you will NEVER have to deal with any taped prompts. Contact us today and get a free insurance quote at 1-800- 582-4342.