If you are buying your home, then you have to deal with homeowners insurance. Homeowners insurance is important because it helps you manage potential disasters like a fire, flood or theft. The premiums, however, can be painful. Here are three ways you can potentially lower your homeowners insurance premiums.
Get a Policy With a Higher Deductible
Your deductible is the amount of money you have to pay out of pocket before the insurance kicks in. If you think about it, the chances of you needing to use your insurance are pretty small. Therefore, it’s advisable to get the highest deductible you are comfortable with and that you’re offered. As you select a policy, make sure you pick a reputable company that does homeowners insurance Sacramento.
Carefully Choose Your Pets
Most homeowners don’t know this but your choice of pet could impact the cost of your insurance or even whether you can get insurance at all. In many states, simply owning a Pit Bull could be grounds for denial of coverage. Dog bites make up around 30% of all liability claims for homeowners insurance. Due to this, most states will either deny your application or raise your premiums if you own a breed of dog that is known for potential aggression. These breeds include Pit Bulls, German Shepherds and Rottweilers.
Add Home Safety Devices
Another effective way to lower your deductibles is by installing devices in your house that are geared for safety. Home security and burglary alarm systems are one of the biggest value-adds. Another reat add-on is upgraded smoke alarms and carbon monoxide detectors. Water leak detectors and alarms are another important safety upgrade. Any type of upgrade that specifically protects against common liability claim categories could result in lowered premiums.
Every homeowner needs insurance. As you start shopping, try these tips to effectively lower your premium.