Everyone loves a bargain, especially when it comes to a continuing monthly expense such as their homeowner's insurance, and here in California where the cost of living is so high and the value of homes is out of sight, it is vital to find ways of trimming the cost of our monthly home protection premium. The really great news is that saving money on your policy is so easy you'll probably want to kick yourself!
Let's start with something really basic, like how much insurance you need to pay for in the first place. Are you aware that a lot of people grab their property tax bill when determining how much protection they need to buy? The problem with that is that many times they inadvertently include the value of the land under their home when determining how much protection they need.
Keep in mind that you need to insure for the cost of rebuilding your home from the foundation up and for the cost of replacing the contents of your home - you don't need to pay to replace the land.
You can also save a quick $100 or so each and every year by simply paying your monthly premium automatically directly out of your savings or checking account. If your company doesn't have to mail you an expensive bill every month they can pass the savings along to you.
Burglaries are a big part of the cost of homeowner's insurance. You can save a great deal of money every month if you take a few simple precautions to keep burglars at bay. Start by adding floodlights that are motion-triggered. Next put a deadbolt on every exterior door. Then add working locks to every window and, finally, trim bushes away from windows so burglars have nowhere to hide. Then let your agent know what improvements you've made.
Similarly, making your property safe from injury claims can save you money, too. Replace all broken or uneven concrete walks, fill in potholes, repair loose boards on decks and porches and add motion-sensitive floodlights. Then let your agent know about all the improvements you've made to your property.
Increasing the standard deductible from $500 to $1,000 can save you as much as 25% each and every month on your premium. Unless you often make small claims against your policy this is an excellent way to save a lot of money every month.
We've saved the best for last. The number one thing you can do to save money on your homeowner's insurance here in California is probably the easiest thing of all. Buy your policy online.
Online brokers have virtually no overhead and they have a ton of competition. That's the perfect recipe for tremendous savings and YOU can benefit from it. Just shop around online. You can find home protection policies at savings of up to 30%.