Saving Money on Your Homeowner's Insurance
Are you looking for a great way to save yourself a little money when it comes to your homeowner's expenses? Sure, purchasing a home that is for sale by owner can help you save a significant amount of money when it comes to the actual purchase price of your home, but it is possible to save money in other ways as well. More specifically, by taking a few simple steps, you can actually decrease the cost of your homeowner's insurance while also potentially increasing the value of your home at the same time.
Saving Money with a Safer Home
One of the easiest ways to help drive down the cost of your homeowner's insurance is to simply make your home safer. There are several safety features you can add to your home that can potentially drive down the cost of your insurance while costing relatively little to install. Some of these include the installation of the following items:
Carbon monoxide detector
Dead bolt locks
Fence around the pool with a locked gate
Fire extinguishers
Grounded outside antenna
Handrails along the stairs
Heat detectors
Keeping flammable substances outside
Security system
Smoke detector
Sprinkler system
Updated heating system
Updated wiring system
Well maintained sidewalks
While there is no guarantee that these additions will bring down the cost of your homeowner's insurance, there is a good chance that they will. In fact, simply adding a home security system typically reduces the cost of homeowner's insurance by 5 to 15%. Of course, if you are looking to maximize the savings, it is a good idea to contact your insurance company before you make any changes to your home. This way, you can be certain to make the most cost-effective changes and to follow the proper procedures in order to get the most savings possible.
Additional Money-Saving Techniques
In addition to taking advantage of safety discounts, there are several other ways to save money on your homeowner's insurance. For example, many companies will provide a discount to their customers if they purchase both homeowner's insurance and car insurance from them. Therefore, it is worthwhile to check into the auto insurance rates offered by your homeowner's insurance company in order to find out if you may benefit by dealing with just one company.
You might also want to consider raising the deductible on your homeowner's insurance policy. Though raising your deductible means you will have to pay more if you file a claim, it can significantly reduce the amount of your premium and save you quite a bit of money each month.
Being a homeowner is both exciting and frightening at the same time. After all, purchasing a home is a major financial decision. While you obviously need to have insurance in place in order to protect yourself and your investment, taking these simple steps can help make the purchase far more affordable.
About the Author:
Shannon Kietzman is a well known author and trusted resource. Shannon regularly writes for http://www.byownermls.com/, a For Sale By Owner MLS service, the leading real estate search engine of homes for sale by owner (FSBO). For more information, please visit http://www.byownermls.com/.
