Michigan Homeowners Insurance - 5 Ways To Reduce Your Premiums

Analyzing your homeowners insurance will help you see where
you can make changes and reduce your costs. As many people
in the united states are feeling the hit to the value of their homes
due to the mortgage crisis, they are also looking for ways
to save money.

Here are five ways to reduce your homeowners premium:

1. Increase Your Homeowners Deductible
Like any kind of insurance, the fastest way to reduce your premium is to
increase your deductible. This can save you as much as twenty-five
percent. As an example, if your deductible currently is $500, increase
it to $1,000 to bring you that savings. Homewoners insurance is not
intended for small claims but major claims of damage to your home.

2. Multiple Item Insurance Discounts
If you would like to save another fifteen percent on your homeowners
insurance, then you will want to insure your car(s) from the same insurance
carrier that you have your homeowners through. They call this a multi-line
policy as it covers more than one area of insurance.

3. Make Your Home More Secure
One thing some insurance carriers like and will reduce homeowners insurance
premiums by as much as 20% is adding security devices to your home such
as:

a. deadbolt locks
b. window locks
c. an alarm system
d. fire sprinkler system
e. burglar & fire alarms especially those connected to monitoring agencies
such as your local police or fire departments.

4. Home Improvement Discounts
Insurance rates for newer homes are generally lower than those of older
homes due to newer electrical, plumbing, heating and overall structure
are in better condition. If you have made improvements to your home in
the past year you should contact your insurance agent and see if you
qualify for any policy discounts.

5. Don’t Spend Money On Coverages You Don’t Need
Ideally, your homeowners insurance should cover any major purchases or
additions. You may have electronics, appliances, collectibles and other
valuable possessions that depreciate over time. It would be in your
financial best interest to compare, yearly, the limits of your policy
to the actual value of those possessions.

Y2PEKM4JRVPC

Homeowners Insurance – 5 Ways To Reduce Your Premiums

Related Blogs

Read Our Blog

Twitter Matrix

Michigan Insurance News

Our Locations

Socialize With Jim