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While you cannot eliminate home insurance from your budget, there are ways to help ensure you’re getting the lowest rate possible. By modifying the policy, taking advantage of available discounts, and updating the home, you can protect the property without paying more than necessary. Here are some strategies to help lower the cost of your coverage.

How Can You Save Money on Home Insurance?

1. Raise the Deductible 

A deductible is the amount of money you agree to pay for a claim before the insurance takes over to cover the balance. This allows insurance companies to share a portion of their financial risk with policyholders. Insurers usually offer lower premiums for a higher deductible, as this means you assume more responsibility. Consider if you can comfortably afford to raise your deductible to gain extra savings.

2. Invest in Security Upgrades 

home insurance

Installing an alarm system, new locks, and privacy fencing is an excellent way to secure your property against potential break-ins. Additionally, many home insurance providers will reward your efforts with reduced coverage rates because you have a lower risk of filing a claim. Security upgrades can include a variety of features, such as surveillance cameras, motion detector lights, and remote viewing capabilities. Check with your insurer to see what technology you need to meet the discount requirements.

3. Improve Disaster Preparedness

Generally, homes that are less vulnerable to fire, inclement weather, and water damage don’t cost as much to insure. Fortunately, you can minimize your potential loss in a disaster by adding smoke detectors, installing window shutters, and replacing the roof. Additionally, updating your HVAC, plumbing, and electrical systems means there is less risk of a malfunction that damages the property. Making your home as safe as possible decreases the likelihood of a claim.

4. Maintain a High Credit Score

Insurers often use credit scores when calculating the cost of home insurance policies. Higher scores usually indicate a person is responsible, which providers perceive as less risky. Often, people with better credit will pay less for coverage. Keep your score in good standing by paying all bills on time, maintaining a low credit balance, and monitoring your report for errors.

 

For help finding quality home insurance at an affordable price, contact A.W. Adams Insurance in Clayton, GA. They serve residents throughout Rabun County, offering a range of policy options. They’ll provide you with a customized coverage solution that suits your unique needs and maximizes your savings. Call (706) 782-5100 to speak with a knowledgeable agent, and visit them online to learn more about their services.

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