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Secret Tips to Saving on Homeowners Insurance

If you're like most people, your home is probably the largest asset you have, and you have a decent homeowners insurance policy for protecting that asset. However, your insurance premiums shouldn't come anywhere close to equaling your actual mortgage. If you think you're spending too much on your insurance policy, here are a few lesser-known tips which can help you save.

Quit Smoking

You might think this tip would only lower health insurance premiums, but it turns out that other insurance can be increased when you're a smoker as well. Many residential fires are started by cigarettes left burning, so it's no surprise that nonsmokers can get better homeowners insurance quotes than those who continue smoking. As an added bonus, quitting smoking might lower your health insurance premiums as well.

Pay Your Bills

Those with better credit scores will end up paying less on insurance premiums. This is because a person who makes financially sound decisions is generally considered to be a lower risk, since they are assumed to be more responsible and steady than those with lower credit scores. Pay your bills, pay them on time, and keep your credit card balances low for the best quotes on insurance for your home.

Adjust Your Policy

Raising your deductible is a pretty well-known trick to lowering your monthly premiums. This is a great strategy, but just remember it means you'll have to pay more out-of-pocket and upfront if you do ever need to file a claim. Keep money set aside which will be accessible in case there is a problem with your home.

Another adjustment you can make to your current policy is to insure the physical structure only, and not the surrounding acreage. Although your landscaping might be damaged by storms, fires or floods, it will repair itself over time. Your house won't. Make sure your policy will cover your physical home, and don't worry too much about adding coverage for the dirt where it's actually sitting.

These three tips alone can really help you save on your premiums. Remember too that it's a good idea to compare policies before purchasing any type of home insurance, in order to make sure you're getting the right balance of coverage which is still budget-friendly.

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