Homeowners insurance is becoming increasingly expensive and it can be a real budget cruncher for some families but is a highly necessary expense as it protects your home and your possessions in the case of theft, fire, flood, or any other natural disaster. Without homeowners insurance, your possessions would not be financially protected, nor would your home. Stoneway Financial can conduct a FREE home policy review if you are looking for ways to lower your home insurance costs. Get started by taking a look at some of the proven and reliable strategies below:

Comparison shopping

Of course, comparison research is always going to lower your home insurance costs by making sure you use the right provider. If you shop around and do some comparison research online, you can locate a homeowner’s insurance company that provides low pricing, value packed plans, and long-term reliability. Doing comparison research on home insurance is far easier today than it has been in the past. With Stoneway Financial, you can locate a cost-effective policy provider within just minutes.

Consider raising your deductible

Paying a higher deductible will lower your month-to-month home insurance costs. The deductible is the amount of money that you will be charged if the insurance plan is needed in the case of theft or a natural disaster. Raising your deductible is good for insurance companies and it often encourages them to lower your monthly payments and make the plan more affordable for you.

Consider getting your insurances from the same company

If you bundle multiple insurance plans with the same company you can save a substantial amount of money. You should always consider combining your insurances because of these savings opportunities.  Speak with a Stoneway Financial representative and find out what types of discounts or special offers they can offer for bundling your insurance plans.

Make your home safer and more resistant to disasters

Home insurance companies will sometimes offer discounts if you make your home safer and more resistant to disasters. For instance, you can put in a security system, flood proof your home, install new exterior windows or do other renovations.  Stoneway Financial can report these types of changes to the insurance company which can often come with financial benefits that policyholders are often not aware of.

Ensure that you have the best person within your household listed as primary on your policy

Insurance companies will often check your credit score before accepting you as a policyholder. If you have a strong credit score, this can help you qualify for a lower deductible and lower monthly payments.  What most people don’t realize is that the insurance company bases the rate based off the PRIMARY applicant’s credit score.  Talk to Stoneway about credit repair programs that can help you attain long term stability.  Making on-time monthly payments on credit cards, maintaining a mortgage, or financing your purchases and paying them off quickly can help you build a stable credit score.  Stoneway provides a free financial analysis to clients that addresses all aspects of financial planning.

Overall, if you’re stuck paying for a homeowners insurance policy that’s too expensive, you can follow some of the suggestions above and let Stoneway Financial save you money.

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