Things You Can Do to Reduce Your Homeowner’s Insurance Premiums

If you own a home, you will want to have homeowner’s insurance in Cabot, AR. Lenders will require it, but even if you own your home outright, you’ll still want to insure it to protect against the possibility of a six-figure loss. Homeowner’s insurance can be expensive, but there are some things you can do to help find the best deal on a policy.

Shop Around

A good way to find the best homeowner’s insurance rates is to periodically check with other companies. Even if you have never had a claim with your insurer, it will still raise your rates based on its other claims experience. Other insurers may be able to offer you lower rates on your coverage.

Bundle Policies

Another way you can get the best rate on a homeowner’s insurance policy is to bundle it with other policies. For example, you might switch your home insurance to the company through which you have auto insurance or vice versa. Most insurance companies give discounts to customers who have more than one policy, which means you might be able to save 5%, 10% or even more by bundling policies together.

Carry a Higher Deductible

The more you have to pay out of pocket on each claim, the less the insurer pays. That means that the higher the deductible you are willing to pay, the lower your rates are likely to be. For example, if you have a $1,000 deductible, bumping it up to $1,500 can lower your monthly premiums by a few dollars each month.

These are just a few of the many things you can do to lower the cost of your homeowner’s insurance in Cabot, AR. The key is to make sure you have adequate insurance coverage while still selecting the policy that is right for you.

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