Owning your own home may mean different things to different people, but opening your insurance bill may mean only one thing; an increase in your homeowners insurance premium. However, despite the rising cost, you can still find ways to save money on your homeowners insurance, without sacrificing coverage that you need.
Research the Savings
Saving money doesn’t have to take a lot of time, but you do need to know avenues to go to find the hidden discounts. Below are some tips to follow in order to find discounts to offset the increase in your Alabama homeowners premium.
- Keep your Alabama independent insurance agent informed- Working closely with your local Alabama independent insurance agent can only enhance your savings. Your agent can shop for the most affordable rate specifically for you and can notify you of any eligible discounts that may pertain to your situation. Let him/her use their expertise to find you savings.
- Maintain good credit- Establishing and maintaining good credit can lead to discounts. Those with good credit statistically pay their bills on time and have better loss ratios than those with poor credit ratings.
- Bundle multiple policies under one roof- Typically insurers will provide a discount for bundling 2 or more polices with them. Consider bundling your homeowners with your auto insurance to find savings.
- Increase your deductible- Evaluate your current deductible on your homeowners policy to see if you can afford to increase it. Increasing the amount you absorb out of your pocket, should you have a covered loss, will probably lead to a decrease in your insurance premium.
- Invest in updates and home improvements to reduce disaster- Making home improvements and updates (roof, heating/air, fire alarms, electrical wiring, sprinkler systems, and plumbing), can let your insurer know that you are making upgrades which can reduce the likelihood of a loss happening and in turn, reduce your premium.
- Install home safety devices to ward off burglars- Burglar proofing your home by installing home safety devices/alarms that call the police upon unwanted entry can mean significant savings on your insurance premium. It is wise to contact your local Alabama independent insurance agent to determine which systems may qualify you for the discount.
- Pay “out of pocket” for the low-cost claims- Review the claim amount and decide if you can financially afford to pay for it out of your own pocket rather than reporting the claim and running the risk of your insurance rate increasing. Keep in mind that after too many claims, you may even experience an insurance policy cancelation.
Let Us Help You Discover Discounts
Burkett & Associates insurance Agency is here to assist you with all of your Alabama homeowners insurance needs and can help you find any savings for which you may be eligible. Contact us TODAY at 256-704-7400 so that the next time you see your homeowners insurance bill, you may be surprised to see you still have the right type of protection you deserve, offered at a newly reduced premium rate.
