There are numerous unavoidable expenses associated with home ownership. One of the most significant is homeowner’s insurance. The amount that you pay for this type of coverage will depend heavily upon the location of the structure, its age, and the coverages that you elect to obtain.

Even with that, the national average of the homeowner’s insurance premium ranks in at about $1,200.00. It is possible to save hundreds a year on your policy. In this guide, you will be introduced to 3 strategies that will aid in lowering your yearly costs. 

Disregard Land Value 

When signing up for homeowner’s insurance, many mistakenly consider the price that they paid – in total – for their home, including the land value. It is not common for the actual land to succumb to theft, damage from winds, fire, and the other types of common perils included in the policy that you obtain.

If you include the value of the actual land when choosing the amount of coverage in your homeowner’s insurance policy, you will pay significantly more. Simply consider the costs associated with rebuilding the actual structure. In doing so, you are sure to save hundreds of dollars a year. 

Take Steps to Make the Structure More Resistant to Disasters 

The next strategy for lowering your homeowner’s insurance costs is to make your home highly resistant to potential disasters. Examples that may be taken include reinforcing the roof on the home, adding vinyl siding, modernizing your electrical system, adding high performance or high impact windows, and updating the plumbing system so that the risk of water damage is lower.

You should talk directly to an insurance agent to determine what steps you may take to make your home more resistant to disasters for the purpose and intent of saving money on your policy. 

Boost Your Home’s Security 

There are many creative ways to boost the overall security of your home. These include installing smoke detectors, carbon monoxide detectors, enforced locking systems on doors and windows, sprinkler systems, and even security systems that ring directly into monitoring stations.

The more security your home has, the better. It is always a good idea to consult with your insurance company to determine exactly what types of devices should be in place to receive discounts on your homeowner’s insurance policy. This way, you do not exceed the boundaries of your budget as many of these items may prove to be expensive. 

Contact Us Today 

If you want to save money on your homeowner’s insurance, we here at Modica Associates can assist you. We will gather information on your home and conduct research. Our goal is to find the companies that offer the best rates and the most comprehensive coverage for your needs.

We can also provide guidance on measures that can be taken to reduce the annual costs associated with your homeowner’s insurance policy. For more information or to initiate the process of finding the perfect policy for your home, contact us today by calling: 718-855-1836