Choosing Better Insurance Coverage

Few things are more important than having the right insurance coverage. About ten years ago, I was involved in a near-fatal crash where I experienced traumatic physical and emotional injuries. It was really challenging for me to endure the hospital stay and subsequent physical rehabilitation, but with the help of my medical team and my insurance company, I was able to overcome the challenge and completely recover. This blog is all about the importance of choosing the right insurance plan so that you can get on with your life and enjoy those precious years with your family and your friends.

Tips For Cutting Homeowners Insurance Costs

Insurance Blog

Homeowners insurance is a necessary expense. However, there are things you can do to make the expense a little less traumatic month after month. These are a few things homeowners can do to cut their home insurance costs without sacrificing essential insurance protection.

Increase Your Deductible

Your deductible is the amount you're responsible for paying for covered "events" before the insurance company kicks in and does its part. It is an agreement between you and the insurance company that the financial burden of protecting your home is one you both share. The greater the burden you take on for yourself, the lower your insurance premiums each month will be. The other side of the equation is that if your home is damaged from a covered event, you have a larger portion of the damage to pay for before the insurance protection kicks in.

Add "Smart" Features to Your Home

From controlling lights in your home and locking doors from your mobile phone to things like setting your home alarm, setting off panic buttons, and monitoring your home for fire and carbon monoxide damage, homes are simply becoming smarter. The more "smart" technologies you employ to protect your home, the better insurance companies feel about their risks. The lower they perceive the risk to be, the lower premiums they charge for homeowners insurance coverage.

Reduce Risks Around Your Home

Insurance companies are all about reducing and managing risks. The fewer risks your home represents, the safer they feel insuring your property. If you have high-risk items, you'll pay higher homeowners insurance premiums. These items include the following, and others:

  • Trampolines
  • Treehouses
  • Playground equipment
  • Swimming pools

In some instances, the type of dog you have can also affect your insurance premiums. While no one wants to get rid of a dog that has become a member of the family, it's always wise to check with your insurance company before adopting a dog to see how specific breeds might impact your insurance premiums. Getting rid of the other risks listed above, though, can help you save on your monthly homeowner's insurance bills.

One last thing you can do to cut your homeowners insurance premiums is to increase your credit score. Most people have heard that credit scores affect auto insurance premiums but are unaware that it also affects homeowners insurance. Keep these things in mind when buying home insurance and make sure your insurance provider knows about changes you've made to reduce your rates.

Contact a local provider, such as Ronald H. Krupa Insurance Agency, to learn more.


20 December 2021