Monday, July 17, 2017

Lowering Home Insurance Premiums




We all want to save money, right? Well here are a few tips to consider:

  • Shop around. Ask friends and family whom they use, if they are happy with the service they receive, and a rough idea for their costs (to compare to your home). Once you find 3, ask those 3 for quotes and choose the best company to fit your needs
  • Raise your deductible. Most companies recommend a deductible of $500, but if you can raise that to $1,000 you may save as much as 25% off your premium
  • Buy your home an auto policies from same insurer. By bundling, you will save between 5-15% on average
  • Make your home more disaster resistant. Updating the plumbing, electrical heating, etc can protect your investment from fire, flood, etc. Ask your agent if there are options you can utilize in your area to protect your home from exterior events
  • Improve home security. Sometimes you can receive 5% discount for smoke detectors, burglar alarms or deadbolts. 
  • Age can make a difference. Those 55 and older may receive a discount up to 10% because they are viewed as having more time to maintain the home
  • Maintain your credit score. A better score may mean a better rate
  • Stay with the same company for a long period of time. Your loyalty may pay out in lower rates over time
  • An approved sprinkler system may save you up to 8%. Though installing one may be pricey so you will want to discuss this with your agent before pursuing. 

Most importantly, have an open conversation with your agent about cost saving ideas, plans to upgrade/update mechanicals, etc. The piece of mind combined with the savings are a win-win for everyone.


Visit our Platteville WI real estate office at 45 N 3rd St
or find us at UCWisconsin.com &

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