insurance

6 easy ways to get cheap home insurance

Insurance » 6 Easy Ways To Get Cheap Home Insurance

Cut your home insurance bill
Cut your home insurance bill © Rido/Shutterstock.com

You don't have to pay full price for your home insurance. There are lots of discounts you may be eligible for, including some very basic ones, and all you have to do is ask. "Insurance companies try to provide an opportunity for customers to lower their premiums," says Mario Morales, senior corporate underwriting consultant at MetLife Auto & Home in Warwick, R.I.

Homeowners signing up for new insurance coverage will be asked a series of questions, either by their agent or by the insurance company, to determine which discounts may apply. But come renewal time, there's no obligation for them to recheck, which is why it's important to stay on top of things, says Bill Wilson, an associate vice president of the Independent Insurance Agents and Brokers of America, an Alexandria, Va.-based trade group.

Getting cheap home insurance doesn't have to be complicated; it can be as simple as being a faithful customer or having good credit. Here's a look at six simple money-savers you may not know about.

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One of the biggest expenses of homeownership is the insurance. Here are a few ways you can save.

While your agent might check to see which discounts you qualify for when you sign up, they're under no obligation to recheck when you renew. Here are some common discounts to look into.

A multiple-policy discount, this can be awarded by carrying your home, auto and life insurance with the same company. Doing this will save as much as 30 percent.

An advanced-alarm system discount, if your alarm system connects to a central location and alerts emergency responders automatically, you could stand to shave up to 20 percent from your insurance bill.

Loyalty discounts: Companies like it when you renew, so much in fact that they are willing to reward loyalty by lowering your bill by 5 to 10 percent.

And a disaster-prep discount: If you live in a home that meets Insurance Institute for Business and Home Safety standards, you could qualify for as much as 30 percent off.

 

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