Ways to Lower your Insurance Premium

Here are some ways to lower your Home insurance premium:

1. Increase your deductible: By raising your homeowners insurance deductible, you can reduce your premium. For instance, increasing it from $1,000 to $2,500 can save you an average of 11% per year.
2. Make your home more secure: Installing a smoke detector, burglar alarm, or deadbolt locks can earn you a 5% discount. Adding a comprehensive sprinkler system along with an actively monitored fire and burglar alarm could save you as much as 15% to 20%.
3. Skip small claims: Paying out of pocket for minor expenses instead of filing a claim can help you remain claim-free for a certain period of time and qualify for discounts.
4. Ask about lesser-known discounts: Inquire about lesser-known homeowners insurance discounts that you might be eligible for.
5. Account for home improvements: Inform your insurer about any home improvements you’ve made, as they may qualify you for additional discounts.
6. Bundle your auto and home insurance: Combining your auto and home insurance policies with the same provider can lead to savings.
7. Build your credit score: Maintaining a good credit score can help lower your insurance premium.
8. Get rid of high-risk stuff: Removing high-risk items from your property, such as trampolines or swimming pools, may reduce your premium.
9. Shop around: Compare quotes from different insurers to find the best rate.

Please note that these suggestions are general in nature and may not apply to all situations. It’s always a good idea to consult with an insurance professional who can provide personalized advice based on your specific Situation.

Here are some ways to lower your auto insurance premium:

1. Shop Around: Many of us shop around for bargains on electronics, clothes, and other everyday purchases. You can apply the same strategy to car insurance. Whether you are getting insurance for the first time, renewing coverage, or switching to a different insurer, don’t overlook the savings you can score by comparing rates from several auto insurance companies.
2. Review Your Deductibles: Rebekah Nelson, a spokesperson for USAA, recommends reviewing the deductibles attached to your current coverage to see whether you can raise them. A higher deductible means you pay a lower premium.
3. Bundle Your Insurance Plans: Combining multiple insurance policies (e.g., auto and home) with the same provider can lead to savings.
4. Increase Your Credit Score: Maintaining a good credit score can help lower your insurance premium.
5. Be a Good Driver: Maintaining a clean driving record and avoiding accidents or traffic violations can help keep your premiums low.

Please note that these suggestions are general in nature and may not apply to all situations. It’s always a good idea to consult with an insurance professional who can provide personalized advice based on your specific needs.