More Important Information about Your Home Insurance
For most people in California, your home is your single biggest financial asset. For this reason, your home insurance policy needs to be a priority since it is your best protection in the case of disaster. Nevertheless, you don't need to pay a fortune just to protect your home and its assets. You can save money with your home insurance when you shop around different companies to see how you can get the highest levels of protection at the lowest cost.
Saving Money with Your Home Insurance
One of the fastest ways to lower your home insurance rate is through your deductible. By raising your deductible, you can lower the cost of your home insurance. By changing your deductible from $500 to $1,000, you can save as much as 25%. However, when you change your deductibles, you will also take more of the financial risk on in the case of a disaster. Also, if you live in an area like California that is more prone to natural disasters, raising your deductible can be an unwise move since the likelihood for a traumatic event is increased.
Discounts are a great way to save on home insurance. Search for discounts with your company to take advantage of lower rates. If you combine your auto and home insurance rates together, you can get a lower rate and save money. Also, you can look for certain improvements to your home that will lower your rate. For example, storm shutters and a security system have been proven ways to lower your rates. Simple changes like a smoke detector and dead-bolt lock will also save you money on your policy.
Did you know that your credit rating will affect your home insurance? If you pay your bills on time and have little credit card debt, you will be rewarded by a lower premium on your home insurance policy.