A core part of successfully running a household is being smart with money. No matter how much you earn, you want to know that you’re making smart choices with it to benefit your family’s life and living situation. You can take control of your money every day by budgeting and keeping an eye on your incoming and outgoing finances, but you can also look at ways to save money, such as with your house insurance policy.
Switch Providers
The home insurance provider you’re currently with isn’t necessarily the one that makes the most economic sense. Shop around, request home insurance quotes, and look at how you can save simply by switching.
Some insurance providers even offer significant savings in the form of claim-free discounts when you switch to them without a recent home insurance claim. Such savings can add up over time, leaving that money free for other expenses or luxuries.
Bundle Your Policies
When you took out each of your insurance policies, you may have chosen the companies you knew the most about. You might have even signed up with an automotive insurance provider long before you purchased a home and didn’t think to approach them when buying insurance for a recently purchased house.
However, many companies offer multi-policy discounts, which means if you decide to move your house and automotive insurances to one company, you may save money on both policies that may not have been possible through individual insurance providers.
Be a Responsible Payer
Life can get hectic, especially when you’re the parent of toddlers and babies or running a household. However, if you can prioritize paying your bills on time and in full, you may be seen as a responsible payer with excellent payment history.
This can offer the feel-good factor, but it can also translate to savings. Many insurance providers look at your payment history and provide discounts for those they deem to be responsible payers.
Install House Protection Devices
There are at least one million burglaries in the United States annually, and at least 75% of homeowners don’t have a home security system. You may be able to benefit from savings on your house insurance policy by installing theft protection devices.
The more protected your home is, the less desirable it may be to thieves. This may put you at low risk of being robbed and needing to make a claim.
The same general rule applies to fire protection devices. If you have smoke alarms and other fire protection measures in place, you may be able to be alerted to a fire before it has a chance to cause significant damage. This benefits the insurance company, which, in turn, may benefit you.
Be the Early Bird
There are certainly advantages associated with being the early bird in life, but being the early bird with your insurance policy renewals may also provide some surprising benefits. Some insurance providers discount your premiums if you sign up for a new policy at least a week before your current one expires.
House insurance is one of the most essential forms of protection you can have for your house and family, and you may think it comes at a high cost. However, it may surprise you to learn just how many ways you can save by making just a few minor changes.