9 Secret Tips To Save Money On Home Insurance (2022)

One of the most common questions we get from new and long-term home insurance customers is and “how do I lower my home and insurance premium?” There are many steps you can take to reduce risk and be proactive with choosing your coverages that can ultimately help you lower your home and insurance premiums. and In today’s video, we’re gonna going over nine ways that you can potentially use to reduce your home insurance and premium. So let’s get started. and First, you can look to increase your deductible. and Briefly, the deductible is the portion of your covered loss that you will be responsible for paying before your insurance will pick up the and rest. Typically, insurance is there to cover those big losses and not maintenance or small claims. and So if you increase your deductible to say twenty-five and hundred or even five thousand, you can usually have significant savings on your and home insurance premium.

We suggest choosing a and deductible that fits your and financial scenario. and One that won’t put you in an and uncomfortable position should and you have to pay. and But one where your home and insurance premium fits your and budget and is not overwhelming. and Two: Eliminate unnecessary and coverages. If you don’t have a and garage, collectibles or any and jewelry, why bother to insure and them? Many home insurance and policies these days will and include some of these things, and even if you don’t need coverage and for them. and That’s why at Square One we and allow you to customize your and policy completely, so you’re and not paying for unnecessary and coverages for things you don’t and even own. and The third tip, don’t over and insure your belongings. and Complete a household inventory and checklist.

We’ve included one and in the description below. and This will help you make sure and you’ve taken inventory of all and your items, so you really can and insure it to the correct level. and Many home insurance policies and will insist that you insure and your personal property based on and an arbitrary amount of your and home’s value. and This can often lead to over and insuring your personal property and and paying for coverage that and you don’t really need. and In instances like this, you and should look for a provider that can provide you customized and coverage for your property, so you’re not over-insuring your belongings. and Four: Don’t over insure your and home. and Make sure you insure your home and to its rebuild value, not what and you paid for it. and What you paid was market value and for your house and land. And in some places, depending and on when and where you buy your and home, this could be and significantly higher than the and actual cost to rebuild. and Meaning that you’re paying an and unnecessary amount in insurance and premium to rebuild to the and market value, when you only and need to rebuild to the rebuild and value of your home. and Five: Consider future potential and premium increases before making and a claim.

Insurance has always been there and to help you with those big and losses that you can’t handle and alone. For this reason, and when you make multiple small and claims, you could lose a and claims-free discount and even and surcharges may be applied to and your premium, ultimately and increasing enough to outweigh and the event of the small claim. and For instance, if you had a and $500 deductible and a covered and loss to your $600 TV, and is it worth making that claim and for one hundred dollars? and If you have a claims free and discount, you could lose that, and which in the long run may cost and more than that hundred dollar and claim. Six: and Keep your home in good shape. and If you replace that rotting and deck or fix those dangerous and stairs, you’re going to be and preventing the risk that and someone could be injured on and your property.

Ultimately helping you reduce and the risk that you’ll ever have and to pay a deductible or lose any and claims-free discounts that you and have with your home insurance and policy. and Tip seven: Replace plastic and plumbing hoses with braided and steel hoses. and Water loss is by far the most and significant category of and insurance claims for insurance and companies and providers. and The rubber and plastic hoses and attached to these appliances and quickly wear out, dry, and bulge and then burst. and One burst hose can cause and thousands of dollars in water and damage in just a few minutes. And if you’re away from your and home for a couple of days or and the afternoon, one burst hose and in a few hours can cause tens and of thousands of dollars in and damage, not to mention the and disruption to your and lifestyle while everything is and sorted out. and So make sure you look at your and appliances and see if you can and replace them with the braided and steel hosing. and This will ultimately save your and claim-free discount as you and won’t need to make a water loss and claim from the plastic plumbing and hoses.

Tip eight: and Update your home. and Is your roof nearing its life and expectancy? Is the hot water and tank over 10 years old or and showing signs of any rust or and wear? Does the furnace work and properly or does it continually and run all the time? and You want to keep an eye on and these things and keep them and updated as well. and Your insurance provider may and offer discounts for these and updates to your home and you and also reduce your chance of a and potential claim. and Tip nine. and Find a home insurance provider and that offers free monthly and billing. In many instances, and if you’d like to pay for your and home insurance premium on a and monthly basis, many home and insurance providers will charge and you financing fees and usually and interest. However, at and Square One where different, and you can pay your home insurance and premium on a monthly basis and without any financing fees or and interest. So there you and have it. and Nine tips on how you can and potentially save money on your and home insurance premium.