Just like health insurance, most other types of insurance are also seeing rising premiums, including those for home-insurance coverage. In fact, recent information suggests that premiums may soon be rising by as much as 10 percent. What most homeowners do not know, however, is that home-insurance premium rates can sometimes be lowered. If you are a homeowner who has received notice that your home-insurance rates are rising this year, consider trying one or more of the following ways to find and secure a better rate.
Examine your current policy for unnecessary coverage or potential ways to save
One of the first ways to find savings on your home-insurance premiums is to make sure that your current policy does not include coverage that you do not need while offering you the maximum savings potential. Examples include:
Make sure you are being credited for recent renovations and upgrades
Home-insurance companies know that homes that are properly maintained and updated are often less expensive to repair should a claim arise. This is why they often offer lower insurance premium rates for major updates and renovations, such as:
Other improvements that lower risks of damage to the home
Insurance companies also sometimes offer lower premiums when homeowners make improvements around the home that make it less susceptible to damage from fire, wind, storms, or other risks common to the area. These include:
After I moved out of my parent's home, I started learning more and more about insurance policies. I was involved in a bad car accident, and I ended up working with my car insurance company as well as my medical and dental insurance companies. I paid my premiums and enjoyed coverage, but I didn't really understand how the entire insurance claim process worked. I wanted to make this blog to help other people like me to learn more about insurance coverage. Check out this blog for more details on insurance coverage, how to file a claim, and what you should expect throughout the shopping process.