Whether you call Plano, TX home or you live anywhere else, home insurance is a must. However, wouldn’t it be great if you could lower your home insurance premium? At Paragon Independent Insurance Agency, we are able to point out different ways for you to lower your premiums. this way, you can save more money than ever before.
Increase Your Deductible
If you don’t like the amount of money you’re paying monthly, look at increasing your deductible. Looking at switching it from $500 to $1,000 can significantly reduce the overall price of insurance. You’ll need to discuss what all this means regarding when insurance kicks in with your provider, but having a higher deductible will almost always guarantee a lower premium payment.
Subtract Your Land Value
This is a common issue and mistake many people do. After they buy their home they insure it for the price they paid. Makes sense, right? Well, when buying a home, the land value is included in the home. However, should a home need to be replaced, it isn’t necessary to replace the land. So, when finding the right homeowners policy it is best practice to insure just the cost of the home itself and not the home and land value.
Insurance providers offer discounts when you bundle different services. This means, if you obtain your home and auto insurance polices from the same company you’ll see a reduction in the amount of money you need to pay for both kinds of insurance. This is all money you save for obtaining the same kind of insurance.
Disaster Proof Your Home
There are a few ways to reduce your insurance costs. From installing storm shutters to reinforcing the roof with better material, you’ll be surprised what a few upgrades can do to your insurance costs.