5 Tips to Lower Your Home Insurance Premium

How to Lower Your Home Insurance Premium in San Diego, CA

Owning a home can be costly, and many homeowners are constantly looking for ways to cut their monthly costs to avoid living paycheck to paycheck. One of the simplest ways to accomplish this is by seeing if there are any changes that can be made to lower the cost of your monthly home insurance bill. The staff at Tri-Star Chula Vista has a few suggestions that might help you save on your homeowners insurance.

1. Raise the Deductible

The deductible is the money you pay in the event of a claim. Raising the deductible means you will pay more from your pocket if you need to make a claim. In return, your insurance agency will lower your monthly premium. Alternatively, some Chula Vista home insurance policies contain more than one deductible. Raise the deductible limit on all of them. This way, smaller claims can be paid for out of pocket and the insurance agency can pay for larger claims.

2. Be a Loyal Customer

Homeowners who remain with the same home insurance agency for several years may receive a discount for loyalty. A loyalty discount or a long-term policyholder discount rewards customers for continued devotion. Often, this type of discount begins with a 5 percent discount for 5 years of loyalty, and 10 percent for 6 to 10 years.

3. Pay Yearly Instead of Monthly

Some home insurance agencies allow homeowners to make yearly instead of monthly payments. It’s one large bill instead of 12 smaller payments. Much like a magazine subscription, the yearly price costs less than the monthly price if paid all at once. Insurance agencies encourage customers to pay the yearly cost due to the savings, and home insurance is no exception.

4. Choose Paperless Billing

You might be surprised to learn paying online can garner savings, but homeowners who switch to online instead of paper billing often get a discount. Agencies are looking for any reason to reduce paper use to help the environment and save money on their end.

5. Insure the Home Only, Not the Land

Homeowners insurance is about covering the home. However, some policies insure the land as well. Because the land is valuable and reusable, the home insurance premium increases. Read your policy carefully. If you included the land’s value, remove it and get an estimate concerning the cost to repair or replace the home’s structure and/or belongings.

At American Tri-Star, we’re here to help you secure the home insurance policy you need without stretching your budget. In addition to home insurance, we also offer auto, health, RV, and commercial insurance in Chula Vista. Give us a call today at 619-827-0522 to learn more and receive a free quote.