Tips to Lower Homeowners Insurance Costs and Protect Your Property's Value
Tuesday, 2 April 2024, 19:00
Home Values at Risk
Home prices continued to rise last year, with the average value increasing by 4.7%. However, some areas are witnessing a decline due to climate-related risks like flooding and fire.
Impact on Homeowners
Some Americans face challenges with insurance policies not being renewed automatically, resulting in property values falling by up to 12%. Insurance companies are discontinuing policies in high-risk areas, affecting homeowners in California, Louisiana, and Florida.
Ways to Lower Costs
- Shop around and compare quotes from multiple insurers.
- Assess current coverage and consider raising deductibles.
- Bundle insurance policies for potential discounts.
- Consider Costco for affordable homeowners insurance.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.