3 Things You Can Do to Save More Money on Home Insurance

If you own a house and just finished the moving process, you most likely have an insurance policy on the house. In fact, as long as you have a mortgage on the house you are required to carry insurance. But even if you are have paid it off, you should still carry insurance on the home. Yet, just because you have insurance, doesn't mean that you have to pay too much for the policy. Here are some things you should know about saving money on home insurance.

1. Make Your House More Disaster Resistant

Insurance companies are all about minimizing risk. The more risky your house is, meaning the more likely it is to undergo some kind of traumatic event or disaster, the more you will pay in insurance costs. This is why they will give you a discount on your insurance if you can make your house disaster resistant.

This can be done by updating certain parts of the house, like the water heater if it is older, replacing wood and insulation that might be more susceptible to files, getting everything up to code, and updating the house in general. Older houses are more likely to flood and catch on fire, so remodels generally will save you money in insurance.

2. Make Your House Safer

Another thing that you can do to easily save on home insurance is make your house safer. The home insurance won't just pay for costs to fix the house, they will also pay for damage and loss of property from theft or vandalism. Thus, if you can make your home safe by installing a security system, cameras, and alarm on anything else to improve the security of the home, they will give you a discount.

Make sure that before you get a security system you talk to your home owners insurance provider. They need to be aware that you have installed a system and approve that it is one that they will discount for you.

3. Don't Confuse What You Paid for the House With Rebuilding Costs

When you insure the house initially, you generally take what you paid for the house as the amount that your insured it for. However, it is important to recognize that you won't have to pay realtors commission, buy the land again, or pay some of those same fees with the city that you did when you bought the house, if you have to rebuild the house. Thus, you may be over insuring your house.

By doing these things you can save money on home insurance.