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6 Tips to Use to Lower your Home Warranty Costs

6 Tips to Use to Lower your Home Warranty Costs

Home warranty is a valuable investment for any home owner; but this is not to mean you should break the bank on your way to obtaining it. With these handy tips, you will end up paying the minimum for a good home warranty.

1. Improve your security

You would be surprised at how much money you end up saving on your premiums if you install a smoke detector, a good burglar alarm or a fire alarm even. Throwing in dead-bolt locks won’t hurt too. Before this though, find out your insurer’s recommendations as this is what they will work with when calculating your warranty costs.

2. Disaster-proof the house

What if you decided to guard your house against natural disasters such as storms and earthquakes? Modernizing your plumbing and electric system (if the house is old) will also ensure your insurance costs are lowered.

3. Brand loyalty

If you end up buying your home insurance from the same company that provides for your auto insurance, you are assured of getting great deals as opposed to if you buy from an entirely new insurer. This is because some companies actually offer discounts to their clients if they (clients) buy two or more policies from them.

Besides, sticking to the same insurer for a considerably long time just might earn you a special discount reserved for the long-term policy holders. 

4. Increase the deductibles

When one makes a claim on their insurance plan, then there is some amount of money they are required to pay; this is what is referred to as the deductibles. The higher your deductibles, the lesser you will have to pay for your insurance policy. Find out the minimum deductibles dictated by the company you have in mind then increase this to a figure you can comfortably work with.

5. Do extensive research

Finding a good home warranty provider is just similar to finding any other good service to provide and considering the fact that it is your house in question, you should make sure you ae working with the very best insurer. Feel free to ask around or even research online on various companies and their policies as well as the different plans available. You are sure to find one that suits you just fine if only you take your time in conducting the research.

6. Check your credit score

I bet you did not know that the rates you are charged very much depend on your credit ratings. People with good credit are more likely to get lower rates as compared to those with bad credit. This is because to the insurer, a bad credit means that person is more likely to default in paying their premiums and so such are charged more than those who seem to be loyal in making their payments.

When taking out a home warranty, you should not be looking to go too frugal; but this is not to mean that you cannot save yourself some money in the process. If there are areas, which can help earn you discounts, then by all means, take up the opportunity.

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