With all of the expenses of owning and maintaining a home in California, it helps to reduce the cost of your homeowner’s insurance bill if you can. Many people wonder what is the best way to lower my homeowner’s insurance bill. There are many factors that go into the cost of your homeowner’s insurance plan and how much coverage you will receive. Not all plans or insurance providers are the same price for the same coverage, so it helps to shop around and know how to get the best deals on the most amount of insurance coverage for your house. Here are some great tips to get started with the process.
Ways to Lower Your Homeowner’s Insurance Bill
Increase Your Deductible
By increasing your deductible, you should be able to lower your insurance premium. Make sure that your deductible is a payment you are comfortable making should you need to make a claim. You don’t want it too high to cause issues with claims but having it low can increase your premium. It is best to find a balance that fits your budget and coverage needs.
Bundle Insurance Plans
Many insurance providers give you a discount if you have multiple insurance policies with them. This can include things like auto insurance, homeowner’s insurance, life insurance, and more. Ask your current provider if they offer a multiple insurance policy discount of some kind.
Increase Home Security and Safety
Homeowner’s insurance providers often offer a discount of some kind if your home has security and safety added. This can include a home security system, motion activated lights, deadbolt locks, fire extinguishers, and more. Keeping your home safe and secure can help with your homeowner’s insurance costs in California.
Change Billing Options
Your insurance provider may offer different billing options that can save you money on your homeowner’s insurance cost. You may have the option to pay quarterly, twice a year or yearly. Some companies even have a discount for using paperless billing.
Ask for More Discounts
Talk to your provider to see if you qualify for any new discounts. Even if you did not when you started the plan, there may be new discounts that can still be applied to your plan.
Evaluate Claims Carefully
Before making a small claim, carefully evaluate if the claim is substantial enough to use your homeowner’s insurance plan to cover it. Making claims can increase the cost of your insurance coverage, so make sure your claim is worth it.
If you have additional questions about saving money on your homeowner’s insurance, contact our insurance experts today at 877-945-7233.