Homeowner’s Insurance: Money-Saving Tips for Keeping Rates Low

Once you've purchased your home, and the homeowner’s insurance to go along with it, keeping premiums affordable from month to month or year to year is easy—if you know how to go about it. 

If you're looking for ways to cut your home insurance bills, take note of these cost savers. Then shop your rates through GIQ, your affordable home insurance representative!

1. Take care of your home

Your home is a major investment worth your time and effort. And the more you care for it, the lower your insurance rates should be!

For instance, trimming trees in your yard may keep branches from breaking and busting through a window during high winds. Keeping mail or newspapers from overflowing your mailbox or stacking up on your front steps reduces the likelihood of break in and loss. And repairing that warped and leaky roof keeps moisture from entering your home and starting an even worse problem—mold!

Increasing your home's value through upgrades or improvements also sets you up for lower home insurance premiums. Those shiny new appliances not only look nice in your kitchen; they'll also help score you lower insurance rates!

*Bottom line*: Taking care of your home not only shows responsibility; it also saves you money!

2. Look for discounts

Discounts provide one of the best ways to pocket some money and lower home insurance premiums. Which ones you qualify for depends on the laws of your state and your home insurance company.

When you’re shopping for a new policy, ask the insurers you're working with what discounts they have to offer. If your home contains safety features like deadbolt locks or a burglar alarm, you can usually expect a safety discount. If you're over 55 or have been with your insurer for several years, you'll get another discount. If you belong to a certain organization or are employed by a certain business, you could qualify for even more money-saving offers.

*Bottom line*: Overlook no discounts, as they can add up to hundreds of dollars per year in savings!

3. Choose a higher deductible

When you deal with damage or loss, your deductible is the amount you pay before your insurer steps in to help.

While it may be tempting to choose a plan with a lower deductible, this strategy will cost you more in premiums. It's usually cheaper to sock away money in a savings account so it'll be there when you need it, and go for the higher deductible meanwhile.

*Bottom line*: look for a plan with a higher deductible to save some bucks on your homeowner's insurance!

4. Shop Your Rates Annually

As conditions change, home insurance rates fluctuate. So if you see a sudden increase in your premiums, it may simply be that a larger than usual number of claims were filed the past year. Of course, filing claims of your own can boost your rates, too.

Regardless who's at fault, you can counter high home insurance premiums by shopping your rates at least once a year. Comparing quotes gives you a chance to talk to insurers, ask questions, make sure you have the right coverage for your home and find better rates for the coming year.

*Bottom line*: For maximum savings shop your rates once a year, rather than automatically renewing your home insurance policy!

Financing a home can be rather expensive, but insuring it can be almost as costly. So don't just accept the rates you're handed. Take care of your home, ask for discounts, choose a higher deductible and shop your rates yearly.

*Bottom line*: You don't have to pay high rates for home insurance!