If you're sorting through your household expenses and are keen on the idea of paying less for your home insurance, there are a number of different methods you can use to achieve this goal. You don't have to follow the popular method of shopping around to find a lower quote from a different insurance provider. If you're pleased with the level of service that your current company provides, it's advantageous to simply get a better rate from them than to switch your company. Here are three things that you can do to get a drop in the rate that you're currently paying without having to go through the hassle of switching providers.
Take Stock Of Your Pricey Possessions
Think back to when you set up your home insurance policy – you likely had to provide your insurance agent with an estimate of the value of the possessions inside your home. You should be able to find this information if you dig up your initial policy with the provider. Now, consider how the value or state of your possessions has changed. While it's certainly plausible that some high-value items have climbed in value, there's also a chance that you've sold these items or passed them down to family members. As such, they aren't being kept in your home and there's no need to pay a higher rate to insure what you don't have. Provide your insurance agent with a new estimate about your possessions' value and you can be in line for a rate drop.
Hard-Wire Your Detectors
Smoke detectors and carbon monoxide detectors can save your family's life and limit damage to your home itself, but they don't carry much value when their batteries are dead. A valuable accompaniment to battery-powered detectors is hard-wired detectors, which will operate as long as there's power in your home. Hiring a contractor to install these important detectors is a simple way to make your home more secure, which can translate into a better rate on your home insurance.
Keep Your Credit Rating High
A home insurance rate can start to climb when your credit rating gets out of hand, but getting your credit score back under control will precipitate a drop in your home insurance premium. There are numerous ways to improve your credit rating – meet with a financial expert to discuss debt repayment strategies, avoid overextending yourself financially through the use of credit cards and simply make sure to pay all of your bills on time.
If you are currently looking for an insurance provider, consider a company like Gateway Insurance.