News 453 How Lower Monthly Home Insurance Premium Orlando Sentinel

This is an interesting article from the Orlando Sentinel discussing ways to lower your monthly spending on home insurance. Here are a few of the highlights.

Make sure you are only insuring what needs to be insured. For example, you probably don't need to waste money insuring your land, just insure your home.

While it is a controversial practice and many states are taking steps toward eliminating it, many insurers still use credit scoring as a factor in setting your rates. Try to pay your bills on time and keep on top of your debt so that a poor credit report does not cost you extra on your home insurance rate.

If a problem or repair on your home is minor and within your budget, pay for it yourself instead of filing a claim against your homeowners policy. Filing too many claims can increase your rates and even get your policy canceled.

Raising your deductible will lower your monthly premium. Be careful not to raise the deductible so high that any damage to your home would break the bank.

Shop around, many insurers offer the same policies at drastically different prices. Compare among them and choose the most affordable but make sure the company you choose is reliable and reputable. Don't risk your home on a super cheap fly-by-night insurer.

Read more: Ensure that your coverage costs less (Orlando Sentinel) From increasing the deductible to checking your credit rating, here's how to save on home insurance. If you have received your annual homeowners insurance bill recently, you have probably discovered what many home buyers have been going through of late. The cost of coverage is skyrocketing, if it is available at all.