INSURANCE AGENCY NETWORK Blog
Your home will likely be the most significant investment you will make in your life. Purchasing home insurance will protect this investment in case it is damaged or destroyed unexpectedly. However, protecting your investment should not cost you an arm and a leg. Here are some of the ways you can trim costs when buying home insurance for your house.
Have Higher Deductibles
The deductible is the money you pay from your pocket upon filing a claim. Once you pay your deductible, the insurance company will take over and pay for the rest of the costs. If you have a higher deductible, you will have a lower monthly premium or the money you pay the insurance company monthly. However, this will only save you money in the short-term. You can also use tools such as automatic savings accounts which will help you in putting aside cash every month to pay for repair costs and insurance deductibles.
Have an Impressive Credit Score
Most of the time, your credit score will highly affect your premium. Your credit score is used by insurance companies to predict losses and the chances that you will file a claim. If you have a higher score, it means that it is less likely that you will file a complaint, making you a safer bet than anyone else that has a lower rating. It is better to know about your credit score before you shop around and look for insurance policies so you will not be surprised when talking to an agent. If it is not good enough, you can always start taking steps to raise your credit score.
Don’t be Afraid to File Claims for Small Repairs
If you are afraid to file claims for small repairs because it might raise your premium over time, you should not be. Consumer reports show that 57% of those who registered for a claim less than $5000 did not experience premium increase and those that did report that it was only less than $200 annually. An increase in the monthly premium depends on the company and the cost of the claim so you should talk to an agent before filing a complaint. Only then can you find out how much the premium might go up and for how long it will be. It can save you money for the long term, especially if your premium does not go up when you make a small claim.
Home insurance is one of life’s necessities, so it is worth your time to find out which is the best one at the most affordable price. Talk to an agent today to know how you can save cash on your insurance policy.
At Insurance Agency Network, we put our clients first by offering them policies that they can afford. Having insurance is a necessity nowadays and we're here to help you out. Learn more about our products and services by calling our agency at (425) 681-0996. You can also request a free quote by CLICKING HERE.