7 Efficient Ways to Lower Your Home Insurance Costs

Photo by stokkete from Envato

Perhaps, the single biggest investment you’ll ever make in your life is your home. It’s normal to protect your home against damage, that’s why a form of property insurance that covers losses is so important. However, you don’t have to pay a fortune to cover your house and the belongings inside.

According to Insurance.com, the average yearly home insurance premium for a $200,000 home is $1,228. Of course, the costs can vary depending on where you live.

For example, in Florida, where properties are at a higher risk of damage from storms and flooding, premiums are 191% higher; the average annual cost in this state is $3,575. Other states with the highest prices include Louisiana, Oklahoma, Alabama, Mississippi, Arkansas, Texas, and Kansas.

Prices for home insurance are unpredictable, but, if we take a closer look at a report by the Insurance Information Institute between 2013-2014, homeowner’s insurance rates rose by 3%, and, in some years the increases have been as high as 7-8%. So, unfortunately for our pockets, home insurance maintains ascending growth.

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