It is a common notion that people residing in Ohio enjoy much lower home insurance rates than most others in the United States. They generally have to pay about $644 annually- which is considered the 6th lowest insurance rate in the nation. But who says you cannot save more money on your home insurance, even if you live in Ohio? We have made a list of nine tips that will help you in potentially lowering your homeowner’s insurance without much hassle:
Table of Contents
Protect your Home against Disasters
You never know when might disaster strike- it is best to be prepared from the beginning. Ask your insurance company or agent to help you make your home disaster-resistant- so that natural calamities like storms, earthquakes, etc., won’t wreck your home. By making your home safer, you can reduce the premium. If your house is old, renovate it in a way that it can withstand mishaps. Moreover, modern electrical and plumbing will lower the risk of damage from fire or water.
Pay Attention to the Safety of Your Home
Did you know, the safer your home is, the lesser you need to pay for your premium? Take proper steps to fire-proof and burglar-proof your home. It might seem like a costly investment, but it might even lead up to a 15-20% discount on your premium. Before you invest in such equipment, check with your insurance agent about the type and quality they recommend. If procuring them will provide you a substantial discount on the premium, then go for it!
Do Extensive Research before Settling on a Rate
You cannot save on your home insurance if you settle with the very first insurance company you approach. It will take time, but ultimately, the lower insurance rate will make the daily research worth it. Ask around; contact the Ohio Department of Insurance or even the National Association of Insurance Commissioners. The information you gather will help you make a more informed choice that is beneficial to you.
Try Sticking to One Insurance Company
If you are already associated with an insurance company, stay with them. Many companies give special discounts to long-term policyholders depending on the number of years you have stayed with them. It might even add up to a 10% discount in some cases. Moreover, if you buy all your insurances from the same company, you will get an additional discount.
Raise your Deductible
The higher you increase your deductibles, the lesser you have to pay for your premiums. If you can afford to raise your deductibles to a range higher than what has been recommended to you by your company, do it, as it will result in a lower rate of premium.
Do Not Damage a Good Credit Record
If you can show a good credit record, you can get higher discount rates on your homeowner’s insurance. You can maintain a good credit record by keeping the credit you obtain to a minimum and paying all your bills on time. Recover your credit record whenever possible to rule out any errors, and if you find any, have them corrected at the earliest.
Enquire about More Discounts
Once you inquire, you will realize that most insurance companies offer discounts if you play by their rules. Therefore, ask for the requirements and see if it suits you. In some states, you will get a discount if you are 55 years old or retired. In others, you will get a lower rate if your new house complies with the latest building codes.
Shift to Private Insurance
If you are used to buying your homeowner’s insurance through a government plan, you might want to look into the rates that a private insurance company will be willing to offer you. You will be surprised to find that private companies will reduce your rate of home insurance if you can follow the steps they recommend.
Are You Looking To Get Home Insurance?
Ensure to be cautious when looking for a policy, do not settle on a price that might cause trouble later. Be open with the insurance company if you want to conduct business from your home, and make sure to discuss coverage for that business as well. Learn more, and ensure that your policy covers everything important to you.
Connect with Oyer Insurance Agency and explore ways to lower your home insurance cost. Oyer Insurance Agency has the knowledge and experience to help you get the most of insurance while saving you time and money. Call Marlin or Trent for a quote if you live in Ohio.
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