Buying a home is an exciting milestone in life. But it also comes with the responsibility of properly insuring your new investment against damage and liability claims. Home insurance protects your house and belongings from risks like fires, storms, theft, and more. It also covers you if someone gets injured on your property and sues you.
While home insurance is essential, premiums can take a big bite out of your monthly budget. The good news is there are ways to get quality coverage in Atlanta without overspending. Let’s uncover 5 tips to save money on your home insurance policy.
5 Essential Tips To Save Money on Home Insurance in Atlanta
1. Shop Around and Compare Quotes
The first step to slash your home insurance costs is to compare rates from multiple providers. Premiums can vary dramatically between insurance companies, even if the policies offer similar coverage. Spend time researching and getting quotes from national carriers, local insurers, and online insurance marketplaces.
Make sure to compare policies carefully, not just premium prices. Look at the deductibles, types of perils covered, and liability limits. Don’t sacrifice important protections just to save a few bucks.
Getting at least three quotes is wise to find the best deal. Provide the same coverage details to each company so you can do an apples-to-apples comparison. Online tools like Zebra and Policygenius simplify this process.
2. Ask About Bundling Discounts
Many leading insurers offer a break on premiums if you bundle two or more policies with them. For example, you may save up to 15% by buying home and auto insurance from the same provider. Some companies also give further discounts if you add an umbrella or life insurance to the mix.
Ask your current auto, umbrella, or life insurer for a home insurance quote. See if bundling with them beats the competition’s rates. Bundling allows insurers to reduce administrative costs and retain loyal customers, so it benefits both parties.
3. Boost Your Home’s Security
Adding security devices can help deter burglaries and other crimes at your property. In turn, you look like a lower risk to insurers so may qualify for a discount. Common options like alarm systems, security cameras, motion sensor lights, and deadbolts on all exterior doors can each trim 3% or more from your premium.
Updating your locks and adding storm shutters may also reduce rates in Atlanta. Contact local insurance agents to learn which safety upgrades qualify for discounts. But avoid DIY home security systems – they must be professionally installed and monitored to earn premium savings.
4. Raise Your Deductible
Bumping up your deductible – the amount you pay out of pocket on a claim before insurance kicks in – is one of the most effective ways to lower your premiums. Doubling or tripling your deductible could easily reduce your costs by 10% to 30%.
Just be sure you have enough savings set aside to cover the higher deductibles if you do file a claim. Also, confirm the premium savings outweigh the financial risk you’re assuming. Start by raising your deductible to at least $1,000 to see meaningful savings.
5. Maintain Good Credit
Most insurers check your credit when pricing home insurance policies. Customers with higher credit scores tend to file fewer claims, making them less risky to insure. As a result, maintaining good credit can earn you a lower premium.
Check your credit reports a few months before your policy renews. Dispute any errors with the credit bureaus. Pay down balances and avoid taking on new debt before applying for coverage. Aim for a credit score above 760 to qualify for the best rates.
If your credit needs work, some insurers may give you a “credit-builder” policy with higher limits that convert to a standard policy after 1-2 years if you maintain a good payment history.
Don’t overpay to protect your Atlanta home. Compare quotes, bundle policies, boost security, raise deductibles, and improve credit – taking these steps can help you save significantly on premiums. Re-evaluate your coverage each renewal to ensure it meets your needs at the best price.
Contact a knowledgeable local agent who can walk you through money-saving options. They will shop among multiple carriers and help you strike the right balance between value and cost. With a little effort, you can secure quality home insurance that doesn’t break the bank.