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A home is the most valuable asset that most people will ever own. Therefore, it's critical to have robust home insurance that offers ample protection in case anything happens to your property. Great coverage comes at a cost, but thankfully, there are adjustments you can make to bring your insurance costs down. This guide explains simple adjustments that can save you money on property insurance

What Influences Home Insurance Rates?

1. Credit History 

Your credit history can have a significant impact on the rates that insurers offer for your home coverage. If you've had bankruptcies, multiple late payments, or other negative events that drag your score down, you may not qualify for the lowest prices since insurers will see you as a risky client. The good news is that you can boost your credit rating and therefore improve your credibility with your insurance company. Raising your score can help you qualify for lower-cost home insurance in the future. 

2. Deductible

property insurance

The deductible refers to the amount of money that you pay out of pocket if you have to make a home insurance claim. A high deductible plan will decrease your premium, or the amount you pay monthly for your insurance. However, you'll have a higher cost to pay if you have to make a claim. If you want to save on monthly expenses and feel confident that you could cover a higher-deductible expense, choosing a plan that's designed this way could make sense. 

3. Safety Features 

Insurers look favorably upon people who protect their homes with security systems, good lighting, and other features. If you make security changes to your home, let your insurance company know. You could qualify for a better property insurance plan that saves you money over time. 

4. Extra Features 

If you have "dangerous" features on your property such as a pool, your insurance costs will be higher. This is due to perceived risks from your insurance company. If there's anything dangerous on your property, sometimes called an "attractive nuisance," it's worth seeing if you can remove or alter these features to save money. 

 

If you are looking for competitively priced property insurance, contact Consolidated Agency Inc. in Rochester, NY. This insurance agency has helped locals secure excellent rates for more than 35 years. They also offer auto and business insurance. See what they can do for you online, visit their Facebook page, or request more information by calling (585) 467-4110. 

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