Feel like you’re paying too much for home insurance? Check out some of our tips below to learn how to reduce the cost of home insurance and save more.

Shop Around the Compare Quotes

You’re not obliged to use a specific insurer, so always look around at different insurance companies to find the best policies and rates. We recommend getting at least three quotes to compare.

Use an Insurance Broker

Having an insurance broker on your side is the best way to find a policy that covers what you need. Insurance brokers work independently and are not affiliated with insurance companies. They work for you, the client, so there’s no risk of biases. They’ll do the leg work to find the lowest premiums with the best coverage for all your assets, saving you time and money. They’re also a great resource to have when you want to ask questions and learn more about contracts and filing claims.

Combine Coverage

Combining your auto and home policies can save you more, as many insurance companies offer discounts when you purchase more than one from them. Talk to your insurer or broker about this and any other discounts you can take advantage of. Some other common discounts typically include:

• Affinity Discount

• Loyalty Discount

• Retiree Discount

• Non-smoker Discount

Improve Your Home Security

Improving the security of your home can also reduce your premium. Make sure your carbon monoxide and fire detectors are working, and consider installing a security system. Also, talk to your insurer or broker about other ways you can protect your home from natural disasters to mitigate risks and further reduce your premiums.

Hike Up Your Deductible

Paying a higher deductible can lower your premiums. You could save up to 25% by hiking it by $500 to $1,000. Just make sure that you can afford to pay the deductible since it will be out of your pocket.

Avoid Cancellation Penalty

If you decide that you want to use a different insurer, don’t make the switch during your policy. This can lead to cancellation fees. Instead, wait until your renewal date.

Review Your Coverage Every Year

A lot can change over the course of a year, which is why it’s important to review your policy annually. If your home has increased in value or any upgrades have been made, you should adjust the policy to ensure it is accurate.

To learn more about how you can reduce the cost of home insurance, contact us today at Rowat Insurance. Our brokers will help you find the coverage you need and the best possible rate.