Home insurance is an extremely important part of home ownership and helps protect your home and your belongings against damage and injuries which may occur for a variety of different reasons. Your monthly home insurance payments will depend on a wide range of different factors, including the size of your home, what you are protected against, how many people live in your house, and much more. However, there are a few common issues that tend to increase your home insurance payments: understanding what they are can make it easy to fix them and save some money every month:
Old Heating Systems
One of the main reasons why your home insurance payments may be higher than they need to be could be because of an outdated heating system. According to the National Fire Protection Agency, economic losses because of fires cost 14.9 billion dollars, which is a pretty serious sum for insurance companies to have to consider paying out. This means that upgrading your home's furnace and other heating fixtures to more modern systems can help cut down on your insurance payments. It's also important to note that upgrading your heating system will also cut down on your energy bills since you'll be installing new and more efficient heating appliances.
No Pool Fencing
Though it may seem like a small thing, a lack of fencing around your pool can cause a significant bump in your monthly home insurance payments. This is doubly true if you have children: according to the CDC, roughly ten deaths a day – two of which are children under 14 – can be attributed to drowning in water sources like pools. This represents a major risk, and so installing a pool fence is an inexpensive way to mitigate a major household danger, and save you money in the long run as well.
Separate Policy Providers
One of the most common reasons why your home insurance deductible is higher than it needs to be that doesn't actually have anything to do with your home is if you have insurance policies with different insurance providers. Most insurance companies will give you a discount if you have car, home, and health or life insurance with them, which can be an easy way to cut down on the paperwork and get a nice monthly discount as well (and switching won't usually cost you any money, unlike changes to your home - though it depends on your plan).
Contact a company like Daniel L. Rust Insurance for more information and assistance.