Buying a home is likely to be the biggest financial commitment you’ll ever make, which is why it’s crucial to protect it in every way you can. Purchasing home insurance is one of the most important things you can do to preserve your investment and minimize your risk of loss. Although this is another expense to work into your budget, you can be confident knowing it’s well worth every penny. In addition, there are plenty of ways to reduce the cost of your policy without compromising on coverage.

Here are some steps you can take to save on your insurance rate:

• Raise Your Deductible: A deductible is the amount you will pay out-of-pocket in case you need to file a claim before your insurance company covers the rest. Although setting a higher deductible means you will have to put up more money upfront, it can lower your monthly premium significantly.

• Increase Your Home Security: Increasing your home security is an excellent way to make your property less of a risk to insure. Providers will often cut home insurance costs for installing safety devices such as security systems, deadbolt locks, smoke alarms, and sprinkler systems.
• Bundle Your Policies: If you need home and auto insurance, getting them both from the same provider can lead to substantial savings. Companies frequently offer a discount for bundling policies, and it will make your payments more convenient and efficient to handle.
• Maintain Good Credit: Many homeowners don’t realize that their credit rating is a major factor in how much insurance companies decide to charge them for coverage. Those with a good credit score are typically rewarded with lower rates. Keeping your credit in good shape can go a long way in saving you money.

Whether it’s your first time shopping around for home insurance or you want to renew an existing policy, utilizing these tips can help to ensure you aren’t paying too much for coverage. At Steven Hall – Farmers Insurance, we are proud to provide the residents of Mountain Grove, MO, with high-quality insurance products they can count on when disaster strikes. We make it easy to find just the right plan to suit each client’s individual needs. Contact us at (417) 926-7900, or visit us online for a free quote.