Here are some ways to save and lower your premium:
- Use the same insurance carrier for all your policies to maximize bundling discounts.
- Consider raising your deductibles, or the amount you pay out of pocket on claims.
- Think about getting a security system and fire alarm.
Question I love a good deal as much as the next person, and try to be smart about everything we buy, whether it’s furniture or school clothes. Is there anything I can do to save on home insurance without reducing my coverage?
Curtis Corrado, a Farmers Insurance® agent in Centennial, Colorado, gives some pointers on making your home coverage more affordable.
Answer One of the most cost-efficient things you can do is combine all your policies with the same insurer. In addition to home insurance, Farmers® offers auto, life, business, recreational vehicle, boat, RV and umbrella coverage. Combining coverage with Farmers entitles you to particular discounts. The more policies you have with Farmers, the more you may be able to save.
Next, look at the deductibles on your home policy — that’s the amount you pay out of pocket when you have a claim. Farmers offers a wide range of deductibles for customers to choose from. Some homeowners would rather pay a higher premium to get a low deductible in case something happens. Others want the opposite — higher deductibles in return for lower premiums.
Finally, you could receive additional home insurance discounts for your home’s security system or fire alarm. Your agent will help you understand the discounts available to you, and how much you can potentially save.
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