How to Lower your Homeowner Insurance Premium as a Luxury Homeowner
While some may not like having to buy homeowner’s insurance, it’s a necessary thing in our world today. You have to buy it, but you hope you will never have to use it. However, if that time comes, you’ll be thankful you have it.
You may need homeowners insurance, but that doesn’t mean you should pay more than you absolutely have to for it. There are some ways, as a luxury homeowner, you can lower your homeowner insurance premium. Here are a few tips to get great insurance at a lower price.
Choose a Higher Deductible
If you can afford a higher deductible, you can likely get lower rates on your premium. If you go from a $1,000 deductible to a $10,000 deductible, you can save a few hundred dollars every year. Even just going up to $4K or $5K on the deductible can lower your premium $100 or so every year.
Just make sure, if you up your deductible, you can afford to cover it if you need to make a claim. Choose a level you’re comfortable with and you’ll get the best of both worlds.
Add Home Sensors

Some homeowner’s insurance policies offer discounts if you have specific sensors or alarms installed. A sensor for your HVAC system and one to detect leaks could help you save on your policy. Of course, adding a full security system will also help to lower your premium.
Stay with the Same Company
Switching insurance companies may seem like a good idea when a new company offers savings. However, when you stay with the same company, you will gain discounts over time.
In addition, loyalty is rewarded when you use the same company for other types of insurance. Maybe you own a vacation home and a few vehicles. Insure them all with the same company for additional discounts.
If you’re a luxury homeowner and you want to save on your homeowner’s insurance premium, use these tips. You can also take advantage of your age if you’re over 55. Many insurance companies offer discounts for older homeowners.
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