Rising costs of living are putting a strain on many family budgets. Finding ways to save money on your Philadelphia home insurance is important, as it is a regular expense that needs to be balanced against other expenditure.

Some ways you might be able to cut down on your premiums without compromising your coverage could include:

• Raise the amount of your deductible; this could lower your premiums.
• Buy your home and auto insurance from the same company; bringing your coverage under one roof can mean savings on premiums.
• Make your home more disaster resistant; fireproofing, strengthening the structure and other measures can lessen the risk of damage and loss.
• Install security devices to lower the risk of losses due to burglaries; you may get a discount on your premiums.
• Ask about other discounts for which you may be eligible – e.g. over 55s and retirees may qualify for discounted premiums.
• Ask about possible premium discounts if you have been with the same insurance provider for a long time. 
• Review your home insurance requirements regularly to ensure you’re not paying for coverage you don’t need – e.g. if you no longer have expensive home gym equipment, you don’t need be paying for the endorsement on your policy you bought for it. 
• Don’t confuse what you paid for the house with what it will cost to rebuild. The purchase price includes the land value, which shouldn’t be included in the replacement costs.

You need good Philadelphia home insurance, however, you shouldn’t need to pay more than you can afford for appropriate coverage. Speak to us if you’re looking to reduce insurance costs.