Even though Minnesota boasts the 13th lowest homeowner’s insurance rates in the country, residents there still want to find the most affordable deal possible. Shopping around for rates is a great first step but there are other ways to improve your chances of saving money on homeowner’s insurance, including:
Installing smoke alarms and fire extinguishers in your home and garage. Insurance companies appreciate clients who take safety precautions and will often offer a percentage discount if these items are in the home.
Installing a home security system. This is viewed as a positive by insurance companies as well. You will likely have to show proof of the system by way of an installation or monitoring agreement.
Installing dead bolt locks. Many people don’t have secure locks on their doors. This makes it easier for thieves to break in without anyone noticing them. Installing strong locks on all outer doors may lower insurance costs depending on the company.
Maintain a good credit rating. Your credit history has a direct impact on your homeowner insurance premiums. Pay all your bills on time and you’ll likely pay less for all your insurance policies.
Pay once a year. Some homeowner’s insurance companies recognize the need for budget conscious clients to pay monthly as opposed to a lump sum once a year. In an effort to help these clients, they may allow the customer the opportunity to pay their yearly payment in twelve smaller payments. This typically means service charges which just increases the overall cost of the policy. Paying once a year is the cheapest route.
Review your homeowner’s insurance policy every year to see if the contents value or building value has changed. If it has, have the policy rewritten to reflect the new values so you can be certain you are always protected at the best price.
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