Three Actions To Take To Reduce Your Home Insurance Premium

If the idea of paying less for your home insurance sounds enticing, you might be pleasantly surprised to know that lowering your insurance premium is often simpler than you might think. You don't have to go through the time-consuming ordeal of shopping around to find a lower rate and then calling your insurance provider to see if it will match the other rate you were quoted. Instead, you can take any or all of these three actions and you'll find yourself looking forward to opening your future insurance bills. Here's what you can do.

Pay Once Per Year

Paying your insurance bill at the start of each month is an affordable solution, but you might not be aware that this sort of payment schedule costs you more in the long run. It's common for insurance companies to charge an administration fee for handling each monthly bill and payment. Paying the entirety of your policy once per year means that your provider will waive these admin fees, which means that you'll save money. Not everyone has the financial means to change around their payment schedule, but if you're able to afford a single payment, you'll save money in the long run.

Beef Up The Security Factor

The installation of a monitored security system can help to lower your home insurance premium, but there are other steps you can take to lower your rate by making your home more secure. Many of these methods involve making changes to your front door. Replacing a wooden door with a steel door, buying reinforced hinges and upgrading the deadbolt and door jam are all tasks that make the door less penetrable, which your insurance provider will look upon favorably. Whether you're handy enough to perform these jobs yourself or you hire a door contractor, this work will translate into a lower insurance premium.

Boost Your Credit Rating

A homeowner's credit rating plays a key role in determining his or her insurance rate. Insurance companies see people with good credit ratings as financially responsible and believe this high degree of financial responsibility translates into responsible home ownership, too. Obtain your credit rating and work with an advisor, if necessary, to strategize on ways you can improve it. Your methods can include paying off outstanding debts, cutting down on the number of credit cards you use and being vigilant about paying all your bills before they're due. Contact a carrier, such as Southern Family Insurance, for more information.