Avoiding Sky-Rocketing Homeowners Insurance Rates

If you own a home, you know that you probably already maintain a
homeowner’s insurance policy. Over the past few years, the cost of this
insurance has soared. Wildfires, hurricanes, floods, and other natural
disasters have caused insurance companies to dramatically increase
premiums. But there are ways to try and mitigate these increases. Here are
a few tips to employ in an effort to lower your costs.

· Shop Around – It may sound simple, but taking the time to get some
competitive quotes can save you money. Many companies will lower costs
to attract new customers.

· Increase Deductibles – If you can afford it, increase the deductible
for all your policies. Consider what you can afford to pay out-of-pocket in
the event of a claim.

· Check for Discounts – Speak with your insurance provider to learn
about available discounts. Common discounts include discounts for
improved home security or fire detection. Long-term policyholders and
senior citizens may also qualify for a discount. Home improvements can
also help, such as a new roof or fire-repellent landscaping.

· Improve your Credit – It may seem strange, but poor credit can
affect your home insurance costs. Credit scores reflect your financial
security and good credit reduces risk to insurers.

· Bundle Policies – Do not overlook the value of using one provider
for all policies. Combining a home with an auto or other policy can save you
hundreds of dollars on all policies.

Prices are going up on everything. While you may be able to cut out movie
nights or weekend getaways, insurance is typically an essential part of your
financial health. It is a good idea to spend some time ensuring you are
getting the most for your money by following these tips