How to Reduce Your Homeowners Insurance Premium

You’re all about saving money and cutting costs — and why not? It’s a great way to keep your financial dreams on track. One area where you might be able to trim a little of your expenses is your homeowners insurance. Let’s look at some of your options.

Schedule a Personal Insurance Review. Is your homeowners insurance customized to fit your needs and lifestyle? Life keeps moving forward and often that brings changes. It’s a great idea to have an insurance re-check once a year to make sure you have adequate coverage. Connect with your agent to set up a Personal Insurance Review to make sure your insurance needs are up-to-date.

Raise your deductible. Your deductible is the amount you’ll pay your insurance company before they’ll step in and help cover a claim. Typically, if you have a lower your deductible, your insurance premium will be higher. Vice versa — the higher your deductible is, the lower your premium will be. If you currently have a low deductible, consider raising it in order to lower your premiums. This way, you’re only out the extra expense if you have a claim.

Bundle policies. How does saving up to 42% on your auto premium sound? How about saving up to 27% on your homeowners insurance? Sounds pretty good in our book! When you bundle your insurance, such as purchasing both your vehicle and home insurance from American Family, you could earn a considerable discount on your premiums.

Whether your home is a house, condo, apartment or manufactured home, you can enjoy the convenience of insurance packages and take advantage of bundled insurance discounts. American Family agents know our products inside and out and can help you identify what’s best for your situation. Learn more about the benefits of bundling your insurance.

Home purchase discount. That dream of owning a home pays off in more ways than one — and it can actually earn you a discount. If you’ve purchased your home within the last few years, you may qualify for savings.

Age of home discount. How new is your home? Depending on its age, you might qualify for a discount. Check with your agent to see if your home earns you some credit.

Loyalty discount. If you’ve been a loyal American Family customer for a while, you can earn a reduced home insurance premium — it’s our way of thanking you for being part of our family!

Generational discount. When loyalty goes deeper than you, you can earn bigger savings. If your parents are American Family customers, you could qualify for the generational discount.

Renovated home discount. Make some renovations to the electrical and plumbing in an older home and you could reap the rewards in more ways than one. Lower premiums are a great way to see unexpected payouts.

Smart home. Not only are homes outfitted with the latest gadgets pretty cool, they can offer your home added protection that will earn you a smart home discount. Look into security systems, water detection and energy efficiency devices to see if technology pays off with your insurance.

Security system. Adding security to your home gives you protection that pays off. Check with your agent to see if you qualify for discounts for alarm systems and smart security like the industry leading home security system, Frontpoint.

Claims history. Do you have an accident-free history? Not making insurance claims can be to your benefit.

Go paperless. Going paperless not only saves a tree, but it can save you some money too. Check to see if your insurance offers discounts for enrolling in online billing and e-delivery of policy documents.

Autopay. Many insurance companies encourage their customers to sign up for autopay by offering a discount. Does your homeowners insurance offer this discount?

Pay in full. If you can afford a lump-sum payment once a year, you may be rewarded with a discount!

Ask for discounts. There might be even more discounts that your insurance company offers. Check with your American Family agent to make sure you’re getting all the discounts you qualify for.

No two homes are the same and no two homeowners are exactly alike. Each situation deserves the careful review of an expert agent from American Family Insurance, who can determine what discounts will help you reduce your insurance premium. Get in touch with yours today to get started on your savings.


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Related Topics: At Home , Home Insurance