1. Assess your credit
Having a strong credit score can lead to big savings on your home insurance premiums. Be sure to assess your credit and take steps to improve your score. At the very least, make sure everything on your credit statement is correct.
2. Shop around
Standard home insurance policies typically offer protection from a variety of potential risks, ranging from liability to damage from weather-related perils. If you live in areas that are more prone to natural disasters, you may want to adjust or add coverage depending on your needs. No matter what, it’s important to know what you need, what will be covered and what wont. Most insurance companies will offer similar packages but the algorithms they use to provide you with a quote can be different. Because of this, you could save hundreds by simply shopping around and getting at least three different quotes.
3. Pay close attention to your dwelling coverage
Dwelling coverage is the part of your policy that protects the structure of your home. The key is to accurately determine the cost of rebuilding when finalizing the details on your policy. This number is usually different from the purchase price.
4. Have enough in liability protection
It’s important to have enough in liability protection for your property. This protects you if anyone should get hurt on your property.
Bundling your home and auto with the same insurance company can save you money.
6. Add Protection
If you add features to your home that will increase the security of it then your home insurance is likely to decrease. Adding features like a metal fence and an affordable home security camera system will help you get lower insurance prices.
6. Understand policy terms
Deductible, liability coverage, personal property, premium, replacement costs, actual cash value, sub-limits, and riders are all terms you should know when you start shopping for a policy.