As rewarding as homeownership is, it can also be financially challenging. There are a variety of costs to include in your budget, but fortunately, homeowners insurance is one where you can have some control. With proper planning, it’s possible to reduce your policy premium without compromising on the quality of your coverage. Here are a few strategies for securing the best rate possible. 

How to Save on Your Homeowners Insurance Bill 

1. Bundle Multiple Policies

The majority of insurers offer a multi-policy discount if you purchase more than one type of coverage from them. Therefore, if you are shopping for auto or life insurance in addition to a homeowners policy, you can save by having a single company take care of all your coverage needs. This will also help streamline your payments and make your claims easier to handle. 

2. Increase Home Safety & Security 

Oftentimes, when you make your home safer and more secure, your homeowners insurance provider will reward you with a reduced premium. This is because it can decrease the risk of loss due to damage or theft. Consider installing a security system, updating your electrical, heating, and plumbing systems, and replacing the roof. 

3. Raise Your Deductible 

This is the amount you must pay out of pocket before your insurance kicks in on a claim. Setting a higher deductible means you are sharing more risk with your provider. Thus, they are willing to give you a lower premium rate. Don’t choose a deductible that’s more than you can comfortably afford to pay if you have to file a claim. 

4. Explore Discount Options With Your Agent 

Make sure you’re getting all the savings you qualify for by consulting an independent insurance agent. They will not only help compare prices from a number of insurers, but they will also explore all the different discount options they have available. You may be eligible for a better rate if you are over 55 years old, work in a particular profession, have a high credit score, or maintain a smoke-free household. 

Whether you’re seeking coverage for the first time or your existing policy needs to be renewed, it pays to look for ways to lower your premium. The professionals at Imperial Agency will help you put together a homeowners insurance plan that offers both adequate and affordable protection. They have been entrusted to provide residents throughout Bergen County, NJ, with reliable insurance solutions for nearly 40 years. Call (973) 546-9567 to schedule an appointment, or visit them online for more information regarding their services.