Choosing Excellent Insurance Coverage

4 Life Changes That Can Mean Lower Homeowner's Insurance Premiums

There are many factors that are used to calculate your homeowner's insurance premiums. Much of this is out of your control, and simply is a reflection of your home's value and location. But there are certain factors that may bring down your insurance. Some of these factors are things that come about because of changes that take place in your life. The following are four of these changes.

You recently got married

If your policy was taken out when you were single, and you have since been married, you should get a new quote. Your marital status will reflect your premiums. Married couples represent a lower cost to an insurance company than a single person. Many people are not aware of this, but insurance companies are. Single people file more claims on their policy than married couples do. One can only speculate as why this is, but it can mean a discount on your insurance.

Your kids have moved out

In your golden years, once the children have moved out of the home and have their own place to live, you can save money on your policy. Having kids at home will mean that other kids are coming over to the house, and this increases the chances of a claim just from injuries to other children on your property. In addition, just having fewer people in the house reduces the chances of a claim. Once your last child has moved out, you need to get a new quote on your homeowner's insurance.

Your credit rating has improved

As you get older, it is common for a person's credit score to improve. Credit scores are a part of how an insurance company calculates your risk profile. If your credit score has improved significantly since you last took out a policy, you need to get a new quote.

You are getting rid of your swimming pool

Naturally, the premiums that you pay reflects the risk to the insurance company. One of the biggest risks is a swimming pool. There are many ways people, especially children, can get hurt or even die because of a swimming pool. But if you are at a point where you no longer want a swimming pool, you can contact your insurance company to see how much money you will save by having it removed.

The changes listed above are common to many peoples lives, but you need to keep in mind that these discounts associated with these changes in your life will not automatically be given to you by your insurance carrier. To learn more or to get an updated quote, contact services such as Lanham Insurance Agency.