With the cost of everything going up these days, we are all looking for ways to save some extra money. This requires cutting out some of those things we often take for granted. While some people have done away with the morning trip to the coffee shop, others began carpooling to work to save money at the pumps.
One way to save that’s often overlooked is finding ways to reduce homeowner’s insurance premiums. This may require a little work on the part of the homeowner, but when obtaining california home insurance quotes remember that there are savings that can be obtained by making a few minor adjustments in and around your house.
Save money by raising the deductible on the house
According to the Insurance Information Institute (III), if you can afford to double your current deductible from $500 to $1000, you may save as much as 25% on your annual premium. Homeowners insurance is not intended to be used for small fix-it claims, and the benefits of a lower deductible can quickly disappear due to the increase in rates resulting from making such claims, as opposed to fixing minor issues without involving your insurer.
Save money with multiple policy discounts and adding safety features
Purchasing coverage for your home and car from the same carrier could save you up to 15% on both premiums. In addition, you can save up to 20% for additional safety features such as deadbolt locks, window locks, and alarm systems. Insurance companies highly value the protection afforded by burglar alarms and fire alarms (especially those connected to monitoring agencies such as local police and/or the fire department).
Improvements to a home can equal huge savings
A new home’s electrical, heating, and plumbing systems are likely to be in better condition than those in an older house. If making any home improvements to an older home, make sure to update the homeowner’s insurance policy accordingly.
Eliminate any coverage that isn’t needed
Ideally, a policy should cover any major purchases or additions to a home, but don’t spend money for coverage that isn’t needed. There may be appliances, electronics, and other possessions that have depreciated over time. When the time comes to compare california home insurance quotes, it’s probably a good idea to check the limits of the homeowner’s policy against the actual value of your possessions annually.