If you have a home loan, then you are required to have Homeowner Insurance in Houston. Even if you’re house is paid off, insuring your property is one of the best ways to protect your home and yourself in the event of loss or damage. However, that doesn’t mean you should have to pay an arm and a leg for a policy. Here are a few tips for getting discounts on your homeowners insurance.
Install a Security System
Many insurance providers will discount your homeowners insurance by as much as 15 percent if you install a security system. This is because home security systems reduce the risk of being burglarized and other potential losses. Basic systems can be purchased for as little as $100 and provide protection against theft, fire, and carbon monoxide poisoning. On top of saving money on your homeowner’s insurance, you’ll protect yourself and your family from harm.
Make Prudent Updates
You may get a discount on your insurance if you update your home. For example, old appliances increase the risk of fire and electrical problems. Your insurance company may give you a discount if you exchange your old stove and refrigerator for ones. Some companies may also give discounts if you update plumbing and electrical systems. Of course, remodeling the home will cost a pretty penny. Ask your insurance provider how much the discount would be prior to making the investment.
Higher Insurance Deductible
Opting for a higher insurance deductible can net a lower premium. A deductible is the amount of money you have to pay before the insurance kicks in for loss or damage. In general, the higher your deductible, the less your insurance costs. You could put the deductible in an interest bearing account and earn money on it rather than pay high premiums. Be aware, though, that the bank who owns your loan may put a cap on how high the deductible can be. So you should check with them first before making any changes to your insurance policy.
Homeowner Insurance in Houston doesn’t have to be expensive. Contact a reputable company like Metro Allied Insurance in Houston to learn about other ways you can save money on your insurance.
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