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Tips to reduce home insurance bills

Posted On Fri, February 14, 2014

Homeowners are likely looking for every way possible to reduce their bills. And when it comes to home insurance, there are some easy steps that can be take to trim that cost. 

The savings homeowners are capable of on their insurance can really add up over time. Taking steps today can lower payments tomorrow. Here are the best practices when it comes to lowering your home insurance bill. 

Get a home security system
While a homeowner might be avoiding a security system for their cost, they likely didn't take into account that a home insurance bill can be reduced just by adding one. The extra security and peace of mind homeowners get from one of these systems is the primary benefit, but homeowners will also see savings on their insurance bills.

Check out past insurance claims
This is especially important for those shopping around for homes. Seeing the previous claims made by the seller will clue the buyer in on potentially costly issues with the home. 

"If you are looking at buying a home, definitely ask the seller to provide you a copy of their C.L.U.E. [Comprehensive Loss Underwriting Exchange] report on the property, just in case," Vicki Tuua, a home insurance agent and expert, told Yahoo. "It should only cost about $20 and if the property has a handful of claims, you could be buying more than you bargained for. For example, a history of water damage claims might raise your premium 300 percent or more!"

Know what possessions are worth
Another way to cut down on a insurance bill is to assess the value of the possessions in the home. This will ensure the homeowner knows how much coverage they need, not to mention what the price of home insurance should be. 

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