Condos in Gulf Shores Blog » 5 Ways to Save on Homeowners Insurance for Your Gulf Shores Home

If you own a home, you need homeowners insurance. This important insurance policy protects your home and personal belongings if they are damaged or destroyed in a natural disaster or theft. However, you don’t have to pay a fortune for adequate insurance coverage. Here are 5 ways to save on homeowner’s insurance for your Gulf Shores home.

1. Raise your deductible. Your deductible is the amount of money you pay before your insurance company pays for a claim on your Gulf Shores home. The higher your deductible, the lower your insurance premium. If you can afford to raise your deductible from $500 to $1000, you can save as much as 25%.
2. Buy your auto and homeowners policies from the same company. Many insurers will give you a discount for purchasing more than one policy. You can save as much as 15% with these combinations, but make sure it really is less than purchasing separate policies from difference companies.
3. Make sure you are insuring your home, not your property. When you bought your home you paid for both the house and the property where it is built. Your property won’t be destroyed in a disaster, so you don’t need to insure it. When buying insurance, consider what it would cost to rebuild your home, not what you paid for it.
4. Reassess the value of your personal property every year. You need insurance to protect you from loss, but you don’t want to pay for more insurance than you need. There’s no reason to insure your 65-inch television for $2,000 if it is now worth only $500.
5. Secure your home. Your insurer will usually give you discounts for security features like deadbolts, smoke detectors, burglar alarms, and monitored security systems. Some companies also give discounts for storm shutters and reinforced roofs to protect your home from natural disasters. Ask your insurer about steps you can take to improve your home’s security and lower your insurance costs.

It doesn’t take much to save a lot of money on your homeowners insurance. If you’re ready to buy or sell your Gulf Shores home, give me a call.  I’d love to help.  Call me today at 251-978-7118 or email me at John@JohnRicks.com.