If there is one thing that is part and parcel of owning a home, it’s having insurance policies in place. These are designed to protect you and everything within your fall walls. The most common of these being homeowner insurance.
The annual price you pay for your homeowner insurance can vary significantly. No one wants to pay more than they need to, so if you believe you’re paying over the odds, here are some great strategies for lowering your homeowner insurance costs, including moving over to Mexico.
Shop Around
Even if you have homeowner insurance in place already, that doesn’t mean you have to stay with the same provider. It really does pay off to do a bit of shopping around. While it will take some time, you could end up saving a great deal of money. You can check out Insurance Land for those seeking home insurance in Sanford, FL. They provide first-class insurance services to customers in Central Florida and nearby communities.
Raise Your Deductible
One great way to reduce your premium is by raising your insurance deductible. This is the amount you pay if you need to make a claim. Raising your deductible puts cash in your pocket each month that would otherwise have gone to the insurer. This money could be put away for a rainy day, or you could just have more spending money in general. Make sure you’ve got enough saved to cover a larger out-of-pocket expense should you need to make a claim.
Move Somewhere More Affordable
It could be in your best interest to move somewhere that is more affordable. Certain areas and states will have lower insurance premiums. It may even be a good idea to look into moving to a new country altogether. You don’t have to look too far, though. Mexico could have everything you need. Mexico is quite an affordable place to live, with the cost of living being lower than the average of the United States, so it’s worth looking into. Not to mention, you will have a wide range of different areas and towns to choose from in natural beauty spots.
Make Your Property More Secure
While we’re certain you already have home security measures in place, ramping up your efforts can be another way to save money on your homeowner insurance policy. Having smoke alarms, a burglar alarm and deadbolt locks on your property could even score you a discount! When you have these in place, not only will your mind be at ease that you’re safe and protected, you may not have to fork out as much in premiums each month. It pays to be smart, and you will protect yourself at the same time.
Enquire About Lesser-Known Discounts
Unless you check, you may not know what other savings you could be eligible for. Certain insurers provide additional homeowner insurance discounts. These include if you do not have any smokers living in the property, have recently purchased your home, or choose paperless billing. It’s always a good idea to check with your provider as you could save a wad of cash. If they don’t offer any discounts, then you may find another provider who does. Do what you can to find alternatives that are more affordable, and leave you with more cash in your pocket.
Build Your Credit Score
You may not know it, but your credit score can have a huge effect on your home insurance premium. The reason for this is simple. Most states in the US use a credit-based insurance score. This is used to determine your rates. Should your insurer believe your credit score is too low, you may have to pay higher rates. You don’t have to live with a low credit score forever. Make sure to pay close attention to your credit report. When you do, you can look for any errors. There are lots of ways to boost your credit score, like making sure all bills are paid on time and reducing credit card balances.
Homeowner insurance is a necessity for providing financial protection in the event of something happening to your home or belongings. There are lots of ways you can lower the cost of your homeowner insurance. Any money you save can be put into other important things!
