My Home Insurance Rate Went Up: What Can I Do?

COSTA MESA, Calif. - Dec. 3, 2019 - PRLog -- Homeowners in California are finding that their home insurance rates have gone up, as much as 3% or even more, due to the wildfires that have cost insurance companies millions of dollars. However, California residents are not the only ones feeling the heat. Homeowners insurance rates are climbing in many states, often due to extreme weather, which has become the norm in many parts of the country. The good news is that even though prices have gone up across the board, homeowners insurance prices vary among insurance companies. You could save hundreds of dollars by switching home insurance carriers (https://smartfinancial.com/home-insurance). There are also a few other ways to bring down your monthly or annual cost for home insurance coverage.
• Shop Around. Each insurance company has a different way of determining rates. One insurer may quote your neighbor one price and you another, even when both homes look identical. This discrepancy is due to how much emphasis the carrier puts on one factor over another. Discounts also weigh in and determine pricing. To get these discounts applied, you'll need to look into what kinds of discounts each insurer offers and see which you're eligible for. Let's face it: No one wants to spend hours shopping around. They also don't want to pay a broker's fee. For this reason, many people moan about their rate hike and do nothing about it. You do have an alternative. You can compare home insurance quotes without much effort. If you visit SmartFinancial (https://smartfinancial.com/home-insurance), you can fill out a brief form and compare several home insurance quotes instantly, without ever lifting the phone, at least not until you decide which carrier best fits your budget and lifestyle.
• Change the Value of Your Home. Many people wrongly include the value of their land in the overall value of the home when they buy homeowners insurance. This is foolish because the land is not at risk of natural disasters and common perils like fire. The value you assign to your home should be based on what it would cost you to rebuild the actual home and other structures. That is all you'll be paid out if you do experience damage to your home.
Make Your Home Safer. You're probably already eligible for the standard 5% discount that comes with a smoke detector, but you can save even more, up to 25% if you employ sprinkler systems, which may prevent your home from getting ravaged by a fire, or a burglar alarm and/or home monitoring system, which will deter thieves and vandals, who run when they see cameras.

For the next 5 tips, visit SmartFinancial (https://smartfinancial.com/home-insurance-went-up).