Every homeowner should carry home insurance through a place like Daniel L. Rust Insurance. It is the safest way to protect one of your largest investments and it will keep you and your family safe. However, many people spend more on insurance than they need to because they fail to do a couple things. Here are some simple things that you can do to save on your homeowners insurance.
1. Put More Down On The House
Many people don't just carry homeowners insurance, they also carry something called private mortgage insurance (PMI). This is insurance that doesn't necessarily protect the assets and the house itself, instead, it protects the bank if you foreclose on the home. This insurance can tack on a good deal in premiums each month onto your mortgage. The good news is that you don't have to carry PMI. Generally, you only have to hold it if you own less than 20% of the home. This means, if you can put more down on the house, you can save money each month in insurance. It might seem hard to put more toward the loan, and easier to just pay an insurance premium each month. But what you put down on the house will be equity in the home, whereas premiums are something you won't get back.
2. Make Your House More Secure
Another thing you can do to save money on insurance premiums each month s to make your home more secure. Homeowners insurance doesn't just cover the house in the case of a natural disaster. It also will help to pay for damage caused by a break in. This means that if you can make your home more secure, you are less likely to file a complaint for damages due to left or burglary. The insurance provider knows this and knows that they will save money if your house is secure, so they help you to save money too.
3. Bundle All Of Your Policies Together
Lastly, you should try and get as many policies from one provider as possible. When you have multiple policies with one provider they will discount each one so that you save money overall. This is one of the easiest and simpler ways to save money without having to really change anything.
As you can see, there are so many simple ways to save money on your homeowners insurance each month. By just taking a little extra time to educate yourself you could save a good deal of money in the long-run.