4 ways to manage your home insurance costs

When you get a good price on your home insurance, it only makes sense that you’d want to hang on to it.

While some reasons for home insurance increases are beyond your control (for example, if there’s an increase in bad weather events or break-ins in your area), there are a few things you can do to keep your rates down.

For the most part, reducing risk is going to go a long way in helping to reduce claims. Here are four more tips to consider:

It’s all about prevention

There are a number of preventive measures you can take around your home. Things like installing a sump pump and/or a backflow valve can help keep water damage at bay. So can clearing debris from eavestroughs and downspouts on a regular basis. You might also consider installing a good security system, and of course, smoke and CO2 detectors are a must.

Think carefully about adding a pool to your yard

Not only does a pool increase the overall cost to rebuild your home if there’s a total loss, it’s also an increased liability risk which can affect your premium.

Increase your deductible

This can help bring your premium amount down, but you should only do it if you think you can manage it financially should you ever have a claim. Check out Home Insurance 101: Deductibles to learn more.

Small claims can make a big difference

If a claim is small, consider paying for the damages or making repairs on your own. Think of it this way – your insurance is there to help you cover costs when you’re not able to. If the claim pays out little more than your deductible, it’s probably not worth risking the possible increase in your premium.

Protect your home and the things you love most.