How To Save On Your Home Insurance

Written by: Lemonade

Home insurance brings peace of mind, but the prices can be painful on your wallet.

So, here’s what to keep in mind before you renew (be aware some companies will have an auto-renewal process that happens quietly – so check the small print). You might be able to shave a few hundred dollars off your policy just by switching insurers.

  • How long will it take? The time it takes to brew a coffee.
  • Equipment needed: Phone or laptop.

Step 1: Collect your paperwork

Dig out the paperwork from your homeowners policy. It should tell you when your policy is due to expire. Insurers have to tell you how much your premium’s gone up since last year so be sure you know what to expect. Collect some important details for comparison like the age of your home, and find out when your roof was last replaced. 

When switching to a company like Lemonade you can pretty much say goodbye to paperwork from here on out. Lemonade is completely digital, including making claims. 

Step 2: Pick a comparison site

Plug your details into price comparison websites to see how much you could save elsewhere. Try a few, as not all comparison sites cover all the companies on the market right now. 

Step 3: Compare quotes and pick a company

When comparing homeowners insurance rates, make sure you’re comparing policy details before making a decision, including deductibles, add-ons, and policy limits. Sure, price is important, but there’s no point in purchasing a policy that doesn’t offer you the full range of protection you need.

Keep that in mind – Lemonade is fully transparent and their policies are written in plain English so you know exactly what you’re getting for your buck.

Step 4: See if you can lower your premium

A few things that can lower your homeowners insurance premium. For example, if you have a burglar alarm system, smoke detectors, fire extinguishers, sprinklers, deadbolts, wind protection, water or temperature alerts, or central station reporting alarm you’ll likely end up paying less.

If you go for Lemonade you’ll be able to enjoy its ‘Get Discounts Now’ feature, where you can help lower your premium by answering a series of questions about your home’s characteristics and safety measures like home renovations, or whether you live in a gated community.

Poring over a homeowners policy can be a headache, but working with a tech-savvy insurance company like Lemonade makes things simple and straightforward. With the help of AI and chatbots, buying policies and paying claims with Lemonade is a cool drink on a hot day.