Money Saving Home Insurance Tips - Part Two

There are many ways to save money with your home insurance and it is worth exploring every option out there. Home insurance is a good place to look for savings because you're most likely required by your mortgage lender to carry homeowners insurance on your house and home insurance costs can vary widely.

The single best way to save money with home insurance is to shop around. Take the time to compare home insurance quotes because rates between each company offering home insurance can differ by hundreds of dollars. Take the time to get at least three quotes, and because home insurance comes in many flavors make certain you comparing apples-to-apples with the different policies.

Here are five additional tips for saving money with your home insurance.

1. Did you know most insurance providers offer home insurance discounts for policy holders who are 55 or older and retired? This discount can save you significant money on your home insurance, p ossibly up to 25 percent. If you fit the bill be sure to get in contact with your home insurance provider to see if you qualify. Senior home insurance discounts differ depending on your state, your home insurance provider, your age and the type of the insured home. 2. Did you know your credit rating can affect your home insurance rate? It can be depending on the rules in your state, so work toward maintaining a clean credit rating. Also check with your home insurance provider to find out just how much your credit score factors into your home insurance rate.
3. Bundling your home insurance with your auto insurance or other types of insurance will almost always provide a discount on your entire insurance package. Even if you find home insurance from a different provider than your auto insurance that is less expensive than a bundled package, make sure you look into the extra benefits you may be offered when buying home insurance and auto insurance from the same insurance provider. Very often you will be offered more than a simple discount when buying all your insurance from one provider.
4. Getting a home security system can provide home insurance savings. The amount of savings will differ among different home insurance providers , but often you can save up to 15 percent on your home insurance by installing a home security system. Other safety devices that can offer home insurance savings include smoke detectors, fire alarms, dead bolts and fire extinguishers.
5. Does your roof need replacing? Even if doesn't it might be worth it to replace your roof for home insurance savings. Depending on your state and your insurance provider, installing a higher-quality roof can reduce your home insurance.

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