6 Things That Lower Your Home Insurance Premiums
Are you shopping around for a new insurance policy for your home and want to pay as little as possible? If so, it will help to know some things that actually lower your premiums. While some of these may be out of your control, it's important to tell your insurance provider to see the savings.
Being Married
Ever wonder why your insurance provider wants to know if you are married or single? That is because married couples not only tend to be less risky to insurance providers but bring in more vehicles that will be bundled with their insurance policy. In addition, there is now another person in your household that may be looking for a life insurance policy or some sort of additional coverage. You may be surprised that you'll see a discount after you get married and have let your insurance provider know.
Having A Generator
Having an automatic backup generator can actually decrease your premiums. This is due to you not running the risk of having no electricity, which can cause some major damage to a home. For example, losing electricity in the winter can cause you to lose power to your furnace. That can lead to pipes freezing and bursting, which can create a lot of water damage.
Installing Smart Smoke Alarms
A smart smoke alarm has the capability of contacting your local fire department to notify them that you have a house fire. This reduces your risk as a homeowner because the fire department can react faster and put out any unexpected fire that happens.
Paying Off Your Mortgage
It is worth telling your insurance provider if you have paid off your mortgage. This puts you in a positive light with your insurance provider because it shows that you are responsible with money and were able to save enough to pay off your mortgage. This likely leads to you being responsible in other areas regarding homeownership since your home is now completely yours.
Bundling Services
If you have other insurance policies that you can bring to your home insurance provider, that will result in savings as well. This includes home insurance policies for other homes, auto insurance, boat insurance, or anything else that you have insured.
Improving Your Credit Score
Were there problems with your credit score when you got your insurance policy, but have since been resolved? Let the home insurance provider know since your credit score plays a role in how risky you are viewed.
For more information, contact a local agency in your area such as Oliveira Insurance Agency.
