7 Tips for Keeping Your Homeowners Insurance Cost Down

June 3, 2024 · 3 minute read

Blog 7 Tips for Keeping Your Homeowners Insurance Cost Down

We’ve all experienced the effects of the current hard market in insurance, haven’t we? Insurance professionals and their clients alike are all struggling to find ways to make home insurance policies more affordable without compromising the quality of the coverage we all need!

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That said, our team at Leavitt Elite Insurance Advisors have been observing, studying up, and accumulating some simple tips for you for navigating this market and keeping prices down. This is what we’ve come up with… Slip these in your pocket for now or later!

7 tips for keeping your Homeowners Insurance cost down:

Bundle Policies

BUNDLE your policies with the same carrier–i.e., combining your home insurance with your other insurance needs such as auto, umbrella, and even commercial insurance. This can lower your costs substantially.

Raise Your Deductible

Don’t be afraid to RAISE your deductible! It might seem contradictory for us to tell you to “raise” something when we’re showing you how to lower costs, but trust us: Raising your deductible can lower your rates overall. And if you’re worried about meeting that deductible in the case of a claim, consider using some of what you're saving to develop an emergency fund that will cover the cost of that deductible at least once or twice over. 

Improve Your Home Security

IMPROVE your home security with a local or central alarm system. In order for this to lower your rates, we just need the provided certificate from you to document this for the carrier. Easy peasy!

Maintain a Good Credit Score

Yes, if you MAINTAIN a good credit score, it can affect what you’re paying for your home insurance in North Carolina and other states! 

Stay Claims Free

STAY claims free. This may seem like a “duh” statement, but here’s our line of thinking: When you increase your deductible (like we mentioned earlier), you may be less inclined to turn in claims that you could fix/manage yourself and leave the major claims for when you definitely need the assistance. This will keep your rates down!

Update Your Home

We know it’s on your to-do list anyway…. UPDATE your home. Updating your electrical work, plumbing, roof, or heating and air unit will lower your homeowner premium. So, be sure to let us know when these repairs or updates have been done.

Always Review Your Coverage :)

REVIEW your coverage annually. At our agency, we attempt to contact policyholders at least once a year to review coverages and policies by either a phone call, email, or text. If you have not spoken with your insurance agent about your homeowners insurance, PLEASE make it a point and priority to call them. Their expertise is for your benefit-–take advantage of it!

If you have any other questions about keeping insurance costs down in the hard market we are currently in, contact us at Leavitt Elite Insurance Advisors today. Whether you have a policy with us or not, our team is happy to help you navigate the world of insurance! 

Check out these other Homeowners Insurance resources we have out for you: 

Why Should I Get Home Insurance for My North Carolina Property?

Why Should I Have a Home Inventory?

What You Need to Know About Personal Insurance