Bargaining may not be the right word, but yes there are a few factors that can help you lower your home insurance premium.
A few of the factors that can help lower your home insurance premium amount are:
- Agree to share the burden of repairs: If you agree to share the burden of repairing whatever damage is caused, you can reduce your liability, thereby helping reduce your premium amount.
- Maintain an appropriate inventory of goods: Of course, you’d want most of your damaged goods to be covered, but there may not be any point in insuring something that’s too old as you will be insuring it at a depreciated value. Thus, only make an inventory list of the items that have some value on the date of inventory creation.
- More is better: If you have two or more insurance covers, then you are eligible to receive some discounts from the insurance company for your next insurance policy’s premium amount.
- Better safe than sorry: As a home owner, you are expected to take all the care in the world to ensure no untoward incident occurs at your house. Like with any other insurance plan, if your insurance company is convinced that you installed all safety equipment at your home, then you will become eligible to get a relatively discounted premium. Say you have security guards posted 24x7 in the building and fire safety alarms installed at your home, then you stand a good chance of getting discounts on your premium amount.