Your home’s age, the amount of money required to repair or replace it, and lack of safety features are all reasons why the premium for your homeowners’ insurance rises every year. Your premium may also go up to help cover the cost of damage repairs for other homeowners in your area. However, there are ways for you to save on homeowners’ insurance in Newark, DE.
Increasing your deductible can help lower your premium. If you are currently paying a relatively small deductible, consider paying substantially more. The extra money you spend could save you as much as 25% on your premium bill. Check with your carrier for details about how much savings you can expect if you increase your deductible. Also, avoid making small claims, because insurance companies may raise your premium if you make several small claims throughout the year.
Industry officials also recommend bundling your vehicle insurance and homeowners’ insurance to save money. Many carriers provide sizable discounts for customers that purchase both policies from them, and some companies offer discounts for homeowners that are longtime clients. You may also be able to lower your premium by staying up to date on house maintenance and improving your credit score.