There are many ways to save money on your insurance after purchasing property. Whether you own a condo, or simply a regular home, it is important to look into various discounts that you can receive as a part of your homeowner’s policy. Here are some things you can do to make sure you have a lower based premium:

Insure Both your Home and Auto:

Most companies have discounts right off the bat for clients who have two or more policies with them. Grouping all of your coverage with one company or brokerage makes it easier to manage your insurance, and saves you money. The first thing you should ask your agent is what kind of discount their company gives for insuring all policies with them (multi policy discount).

Bump Up the Security on your Home:

Minimal updates to your home such as installing a security system and getting better sprinklers can save you tons. When an agent is preparing a quote he/she will check or uncheck three things that could save you more than you ever imagined. Those three things are:

Does this home have a sprinkler system?

Does this home have a deadbolt lock on the door?

Is this home close enough to a secure fire hydrant?

These three things can cost a little bit of money to install, yet can save you money in the long run by chipping away dollars off of your policy.

Make Electronic Bill Payments:

Not only would it be much easier to have a bank send the money directly to your insurance company, but it will also save you money as well. Some insurance companies charge fees for mailing in a payment and this can mess up the whole process of paying your bill, adding money here and there that will eventually add up into more than you thought possible.

Luxury homes may be a little easier to insure because the square footage of the home is probably higher than regular homes. Agents are always looking to insure bigger homes because it adds up to more money for their company in the long run. Also, luxury homeowners usually already have security systems installed, considering the amount of valuables inside the house. Homeowner’s insurance can progress into multiple discounts. If you are the insured, keep asking questions about discounts, and do not be afraid to spend a little money now in order to save even more money in the future.

This is filed under Home Insurance.


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