For homeowners, having insurance is a must. Even if you have paid off your mortgage, no one is willing to leave their largest single investment unprotected. Still, those monthly payments can become a bit burdensome. Here are five ways that you can save money on those premiums after a small initial investment.
- Install a security system that is monitored by an outside firm.
- Adding smoke alarms can shave as much as 10% off your premium.
- Look for a multi-policy discount.
- Eliminate costly recreation items. Pools and trampolines both add quite a bit to your premium.
- Shop around and compare policies on a yearly basis.
Short of paying off your mortgage and raising your deductible, these are probably the easiest ways to lower your monthly homeowner’s insurance premiums.
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