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Smart Tips for Reducing Your Homeowners Insurance Costs

The importance of homeowners insurance cannot be overstated. After all, owning a home is a major investment. Should an unexpected disaster or accident involving you, your home or your personal property occur, a homeowners insurance policy can help ensure that your investment is properly protected.

While homeowners insurance offers essential financial protection for your home, the cost of your monthly premium can easily add up. Nevertheless, there are several measures you can take to help lower your insurance costs, including these important considerations:

  • Increase your credit score. You can do so by paying your bills on time and always paying at least the minimum payment due.
  • Avoid filing nuisance claims. Use your coverage to protect against losses that you cannot recover by yourself. Take care of minor incidents on your own.
  • Increase your deductible to lower your monthly premium. According to recent research from the Insurance Information Institute, increasing your deductible from $250 to $500 can cut costs by as much as 12%.
  • Consider buying multiple lines of coverage from the same carrier. This practice can often lead to policy discounts. In fact, many carriers offer discounts for bundling homeowners and automobile insurance policies.

Don’t Ditch Your Coverage

Above all, avoid cutting costs on your homeowners insurance by reducing your coverage to less than what you really need or eliminating your policy altogether. Doing so might seem like a simple way to save money in the short term, but it could easily lead to financial devastation later on in the event of a costly home disaster.

We Can Help You Reduce Your Costs

In addition to considering the above practices, talk to the homeowners insurance experts at VTC Insurance Group. We can provide you with more information on reducing your homeowners insurance expense—and help ensure you have the right coverage based on your needs. You can reach us at 248.828.3377 or visit vtcins.com.

This blog is for informational purposes only and is not intended as legal advice.


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