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Homeowners Insurance Discounts

If you want to bring the cost of insurance down for your home then you are looking at discounts on your payments. We have covered the issue of lowering the cost of insurance by increasing the exclusions in the policy.

Homeowners Insurance DiscountsWe have also noted how dangerous this can be and that you need to speak to your insurance agent about what is best to insure and what would not be needed. You would be amazed at the amount of stats which insurance companies keep.

Now Geico offers discounts on your homeowners policy if you can show them the following which brings your risk down and allows them to lower the monthly or annual premiums. These are some of the things you can do to lower you insurance cost:

1. You have a home alarm system that is monitored by a security company;

2. You have deadbolts on your external doors;

3. You have smoke detectors in your home, even better if monitored;

4. You have a sprinkler system in your home.

These items will all lower your risk of having to lodge an insurance claim so your homeowners insurance premiums come down. Careful now as if you decide later to rent your house to someone else, it requires an additional insurance as people who rent, normally dont care to much for the property them are renting.This is mainly for fire and you need to have a “dwelling fire” insurance policy for your home.

Normally your home insurance is paid together with your bond payments each month. Check with your mortgage lender and Geico as to how best to arrange the insurance to ensure that the Bank is covered if your home is lost in a fire.

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