5 Easy Ways to Get Lower Homeowners Insurance

Home insurance can sometimes be unavoidable and a requirement if you have a mortgage on the home. In situations like these it can often be helpful to know a few key points before shopping for your next homeowners insurance policy.

The amount you end up paying for your home insurance premium can vary. Each state has it’s own rules and regulations. You may also notice differences from home insurance company to home insurance company. The average annual premium on a standard home insurance policy is roughly $1,200 for the year. This may seem like a large amount to pay, but when you put things in prospective you can really see the value you get. 

Our homes are often the largest investment we will make. They are also fairly expensive to repair or rebuild if the worst were to happen. Having an insurance policy that will cover you will give you the peace of mind in knowing your investment is protected. 

4 parts of homeowners insurance

Most standard home insurance policies cover four parts. Dwelling coverage, other structures, loss of use coverage and personal property coverage. 

Dwelling coverage; Covers damage to the home. Typically you should look to carry enough dwelling coverage to completely rebuild or repair the home from ground up. 

Other structures; This portion of your policy will cover external structures on the property. This can include fences, sheds, garages and other structures. 

Loss of use coverage; This coverage will protect you if you experience higher than normal expenses due to not being able to live in your home. This can sometimes include rental income if your renter is unable to pay you rent. Please check with your agent directly for the specifics in your area. 

Personal property coverage; This particular coverage protects your personal property within the home. You will want to take a thorough list of your most valuable items. It’s good to have an inventory if the worst were to happen. 

How to save money on homeowners insurance

The rate you pay for your home insurance can vary. You will want to make sure you do your own due diligence and research what you actually need. Before we get into the 5 easy ways to save money on your homeowners insurance, if you’re in California and want to inquire immediately, give us a call. Our agents are experts when it comes to home insurance and they have access to some of the best homeowners insurance companies in the industry. Give us a call today 916 313 6100.

#1 Shop around for the best rate and company

You never want to settle on the first quote you get. That’s where the agents from Eugene C Yates Insurance Agency can help. Like we mentioned above, our agents have access to the best home insurance companies in the industry. This allows them to take your situation and shop it for the best rate. We are your one stop shop for the best insurance rates from the best insurance companies. Call us today, we’re nice people & we have great rates! 916 313 6100

#2 Ask for a higher deductible

The higher your deductible is, the lower your rate will be. There are obviously pros and cons to this. If you have money put away and have never filed a claim before, maybe a higher deductible would work for you. It depends on your situation and what your goals are. 

#3 Bundle your auto and home policies

This may be our favorite option. If you have multiple policies look into bundling them to save money. On a good day this can cut a decent amount off of your premium. The other thing that’s awesome about this is how it makes all of your policies more conveniently in one place.

#4 Improve security features

Insurance is largely based off risk. If your home seems to be more risky than your neighbors, you’ll more than likely end up with a higher rate. The good part is home insurance companies will sometimes reward you for making the home less of a risk. This can be done easily by installing security features and other safety features that might make the home a safer place. 

#5 Ask about discounts 

Most homeowners insurance companies will have different discounts available. The best way to find out what may work for your situation is to ask an agent. Your agent should be able to look at what’s available for you to take advantage of. 

These are only a handful of simple ways to lower your home insurance premium. If you have additional questions and live in the California area, give us a call. We would love to get you better home insurance! 916 313 6100