If there is one thing that many people hate bringing into their monthly budget because it seems completely frivolous until you actually need it, it is property insurance or home insurance. If you think about it, your home insurance should be the absolute last thing that you ever cut out of your budget, as it is there to protect the largest asset that you will ever invest in in your lifetime. And as one malicious event, either man made or natural, could completely wipe you out, the fact that many people are cutting everything from their home insurance payment that is not nailed down by the auspices of the law is quite disturbing.
Instead of giving up your quality of life and your peace of mind, why not try negotiation with your home insurance company? They are simply watching their own backs when it comes to protecting your risk, and so if you are able to somehow take some of this risk away from them by eliminating risk factors or taking on some risk yourself within the appropriate financial structure, your home insurance payments would go down without a dip in quality of life.
Below are a few tips on how you can reduce your home insurance payments.
- Install an alarm system
An alarm system is a huge step in protecting a home, and definitely something that home insurance companies are willing to look at in terms of your home insurance policy payment. Get the best alarm that you can afford, and keep the specific details from your home insurance company if they ask. If they don’t ask, they should come away with the impression that you have the same alarm system as Fort Knox.
- Increase your credit score
This may seem completely unrelated, but a good credit score means that you are more likely to stick around and take care of the house, which reduces the risk that the home insurance company will have to pay the city or the county for damages from an abandoned property. It also reduces the risk of fraud in their eyes, as you are seen as a more honest person.
- Gate your yard and get a garage
Both of these improvements are quite important to home insurance companies as they both reduce the risk of accidents in their eyes. And if their risk is reduced, they will be forced to give you a lower rate.