Tightening Your Budget

Being a homeowner is an expensive responsibility, but you don't have to be bleeding money all of the time. In fact, you may be paying more than you need to right now on your homeowners insurance policy. Consider the following ways in which you might be able to lower your costs, without compromising anything.

1. Don't Simply Auto-Renew Your Policy

Whatever you're paying now for your homeowners insurance may be more than you need to. For example, if you've made any changes to the home in the past year, they could earn you a discount. Also, your insurer may be able to offer you a reduction, especially if you shop around and discover lower rates with another company.

2. Ask About Bundling

If you have a number of different policies, such as one for your vehicles and another for the house, consider bundling them, if doing so could provide savings. Just like with your cable/phone/internet services, the more you buy, the more you might be able to save.

3. Mention Your Retirement

If you or someone else living in the home is retired, that should mean someone is home for more time during the day, which could get you a discount on your homeowners insurance. Discounts in retirement may extend to other promotions, too, so mention any change in your working status and note when you've reached that golden age.

4. If You've "Gone Green", Brag About It

Repairing your home using certified green materials or procedures may qualify you for a discount on your homeowners policy, not to mention the warm and fuzzy feeling you'll get, knowing you're doing the right thing for the environment.

5. Increase Your Home's IQ

Smart home technologies don't just make life easier for you, they can make it safer, thus, possibly garnering you a reduction on your policy, such as if you have a smarter security system or one designed to keep you safer in the event of a fire. If you're going to upgrade your home's capabilities, through the application of smart technology, ask a sales or tech person how it may affect your insurance.

6. Have Your Home Rewired

Especially in older homes, wires can become worn or strained to the point that they're potentially hazardous. Too many home fires are started by faulty wiring, an often preventable scenario, so if you think this is an underlying issue in your home, you have a few reasons to improve the situation, including paying less on your policy. Although rewiring may seem like a major expense to you now, what it could save is immeasurable.

7. Choose Your Dog Carefully

If you tend to prefer certain types of dog breeds, bringing one home could actually raise your insurance. For example, if the thought of having a Doberman Pinscher laying out on the porch makes you feel safer because it's a breed feared by would-be burglars or home-invaders, your insurer probably takes a different view. Since some of the larger, (potentially) more aggressive breeds, like Doberman, German Shepherd and Rottweiler can be more dangerous to innocent people just passing by, your liability will very likely rise.

8. Stay On Top Of Roof Issues

Since your roof protects so much of your home, if it's upgraded, that could result in a decrease in your insurance. If your roof needs repairs anyway, be sure and mention the project to your insurance agent once it's complete, so the handiwork can be reflected in your policy.

These and other changes made around the house and in your life could give you a break on your insurance, and what homeowner couldn't use a financial break once in a while? Stay in touch with your insurance agent and keep them up-to-date on the positive things you've got going on. It could save you, big time. Contact a company, like International Financial Group Ltd., for more help.