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Los Angeles Home Owner Insurance – Five Strategies that you can Use to Lower Your LA Homeowner Insurance

homeowner-insuranceThe home owner’s insurance premiums in Los Angeles are too high. And has been on upward trend over the last few years and now constitutes a massive part of most home insurance budgets in LA County. The recent economic crisis has placed a huge strain on LA homeowners. As income decreases due to unemployment or under-employment, home insurance premiums have doubled or even tripled in the recent years. There are however a host of strategies that you can use to drastically lower home owner insurance and make significant savings during these lean times.

Raise the LA home owner insurance premium deductible

Raising the deductible on any insurance coverage plan is one of the best ways on how to save on home owner’s insurance in Los Angeles.  The deductible refers to the amount that you plan to fork out for your home owner insurance before your insurance company steps in to bail you out. Raising the deductible has a significant impact on your insurance premiums.  As an illustration of this impact, it is possible to save as much as 30% on your insurance premium payments by simply raising your deductible from $200 to $500.

Combining your home owner’s insurance with auto insurance

Buying multiple insurance coverage options from the same company is always a sure way of cutting down on costs as the insurance companies will offer you very generous discounts for the coverage. This can range from 5% up to 15%. You can lower home owner insurance by bundling it with your auto insurance. Use the price comparison tools to determine the most affordable multiple coverage offers.

Give up smoking

Quitting smoking is one of the top tips to help you lower home owner insurance premiums. Non-smokers usually qualify for lower home owner insurance premium rates. Some companies have more generous insurance premium discount rates. For example, if members of a household have not smoked for a certain a number of years, you may qualify for certain discounted rates.

Ask for additional discounts

Insurance companies have multiple discounts on home owner’s insurance policies.  Before you make a purchase, search for discounted rates, coupons and vouchers to make savings on the purchases of your insurance premiums.

Improve your home security

Better secured homes attract lower home owner insurance premiums.  Install smoke detectors, fire alarms, and home security systems. Companies will offer you generous discounts depending on the sophistication of the security system that you have installed. Determine the insurer requirements before you invest in a costly home security system.

Avoid high risk areas

If your home is located in the high risk areas, you will have to pay more to protect them. Locations such as the hurricane-prone areas, earthquakes, and areas prone to flooding will attract high home owners’ insurance premiums. Invest in homes in low risk areas so as to pay lower premium rates.

Update your insurance coverage

Adding constant updates to your insurance coverage will assist you in lowering your insurance premiums.  You can talk to your home owner insurance provider to determine the changes that you can make so as to lower your costs.

Improve your credit card score

Your credit card score determines the amount of insurance premiums that you will pay. A good credit score will secure you a good package and help you lower home owner insurance significantly.



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