Money Saving Tips for Your Cincinnati Home Insurance Policy

December 7, 2011

Your Cincinnati home insurance policy doesn’t have to cost you an arm and a leg.

Here are eight tips that could help you save money on your Cincinnati home insurance policy.

#1 – Shop Around for the Best Cincinnati Home Insurance Policy

You don’t have to settle for the first Cincinnati home insurance policy you find. There are a lot of options out there, so you’re better off comparing a variety of policies and choosing the one that makes sense for you.

The best way to compare various home insurance policies is to talk with an independent insurance agent. Because an independent agent is not tied to any one insurance provider, he or she can help you find an affordable home insurance that’s right for you.

#2 – Review Your Cincinnati Home Insurance Policy Regularly

At least once a year, you should review your Cincinnati home insurance policy to make sure it covers any major purchases and additions you made to your home in the last year.

A regular review of your home insurance policy also affords you the opportunity to make adjustments to coverage you don’t need anymore. You want to make sure you have the enough coverage to recover your belongings in the event of a disaster, but you certainly don’t want to pay for more insurance than you need.

#3 – Seek Out Cincinnati Home Insurance Policy Discounts

Many insurance companies offer discounts to customers that maintain multiple policies under the same roof. You can sometimes combine your home insurance policy with a Cincinnati auto insurance policy and/or a health insurance policy through the same provider and get a discount of 10% or more. Ask your insurance provider if this applies to your policy.

#4 – Raise Your Cincinnati Home Insurance Deductible

The deductible is the amount of money you have to pay out-of-pocket for expenses before the insurance company will cover the remaining costs. Like health and auto insurance, the higher your deductible, the lower your annual premiums. In other words, by agreeing to pay more for damages yourself before your insurance kicks in, you can lower the cost of maintaining your Cincinnati home insurance policy.

The downside to this tip is with a higher deductible, your pay out-of-pocket for smaller claims. So it could end up costing you more in the long run depending on your situation.

#5 – Check Your Smoke Alarms

Most homes these days come standard with smoke alarms. But there are some older homes that don’t. So make sure you have the recommended number of smoke alarms for the size of your home and check them often to make sure they’re still working properly. By installing much needed smoke alarms in an older home, you could save money on your Cincinnati home insurance policy. Plus, they could end up saving your life too which is even more important.

#6 – Purchase a Security System

You can often obtain a discount on your Cincinnati home insurance policy if you purchase a security system for your home that is monitored by a central station or the police.

All you have to do is provide proof to your insurance provider that your security system is monitored by a central station.

#7 – Make Your Cincinnati Home Disaster-Resistant

You may be able to save money on your annual premiums by making your home more disaster-resistant. Ask your Cincinnati insurance agent or your insurance provider if there is anything you can do to make your home more resistant to windstorms and other natural disasters.

For example, you may want to consider adding storm shutters, reinforcing your roof, and/or retrofitting your home to better withstand earthquakes. Talk with your insurance professional to learn more.

#8 – Maintain a Good Credit Record

Lastly, you’ll want to maintain a good credit record if you want to keep your Cincinnati home insurance premiums from skyrocketing. Insurers are increasingly using their customers’ credit histories to set prices for their home insurance policies.

Contact a local Cincinnati insurance agent today to make sure you have the right Cincinnati home insurance policy for you.

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