home owners insurance colorado springsThese days, most of us are looking for ways to save money. If you stop and think about it, you are probably spending too much money in places you do not need to. One great example of this is your homeowner’s insurance costs. There is no doubt that you want to make sure your home is adequately covered in case a disaster strikes, just like all your other insured toys. But, there are many ways you can save on your monthly premium. Take a look at some of the easiest ways this can be done.

Raise your deductible

The cost of your premium is directly related to the deductible you choose for your policy. The higher your deductible is, the lower your premium will be. So, the first place you should look to save money is the amount of your deductible. If it is too low for your needs, consider raising it. But, do not be foolish with this move. Make sure you keep your deductible at a level that you can pay if you have to make a claim on the policy.

Bundle your policies

Insurance companies reward loyal customers. You can save a bundle (pun intended) on your insurance premium if you bundle your homeowner’s insurance policy with your auto and other policies.

Seek out discounts

Insurance companies also like to reward certain customers in the form of discounts. Always ask your insurance agent what types of discounts are offered and take advantage of every one that you can.

Eliminate coverage you do not need

Go through your policy with a fine-toothed comb and make a list of everything that is on it. If you are paying for something that you no longer have or has aged to the point where coverage is pointless, remove those items from your policy.

Do not make unnecessary claims

Making a claim on your policy can drive up your premium costs. So, only make claims when it is absolutely necessary. If there is something you can pay for on your own, you will likely save money in the long run.

Choose your dog breed carefully

Although it may not seem fair, simply owning certain breeds of dog can increase your premium costs. Dogs like pit bulls and Rottweilers have a bad reputation whether it is deserved or not. So, if your family must have a four-legged friend, go for a more family-friendly breed.

Colorado Springs is a beautiful place to live. Make your experience here all the better by insuring your home smartly and within your budget. If you have questions regarding homeowners insurance or if you would like to speak with an agent about purchasing a policy, contact your local Farmers Insurance Company today. We will be happy to help.