With insurance costs going up and up and up, everybody’s looking for a way to cut costs. There are literally hundreds of different ways to lower the cost of a house insurance policy. Below we’ve compiled the top 4 most absurd ways to lower your house insurance costs. Is there a chance you’ll use any of these methods to lower your costs? Not very likely. But you will have a good time reading about the most absurd ways to lower your premium!
#1: Move to a Different State
If your home insurance is extremely expensive, one of the most absurd ways to lower your premium is to move. Simply put, some states just have more expensive insurance than others. A few states that are near the top of the list when it comes to price are Texas, Florida, and California. For some reason people in these states tend to pay much more for house insurance than those who live in states like Idaho, Wyoming, or Arizona.
#2: Downgrade Your Home
Another absurd way you can lower your house insurance cost is by selling your big home and getting into a smaller home. The smaller the home, the less dwelling insurance you will need. The less dwelling insurance you need, the better your price will be. On that same token, the newer your home, the cheaper your insurance will be as well.
#3: Fix Your Credit Score
Ah, if fixing your credit score was just that easy. Wave the magic wand and that ugly 559 turns into a beautiful 742. The reason this suggestion makes the “absurd” list is because for many it simply isn’t that easy to fix a credit score. Once you have bad credit, you have to be pretty darn good for quite some time before that 559 blossoms into the 742 mentioned above. Many house insurance companies, including the best house insurance companies, rate based on credit, so regardless of how absurd or difficult fixing your credit may be, it will lower your insurance premiums once you figure it out.
#4: Downgrade Your Insurance Policy
House insurance policies come in many different shapes and sizes, the least of which is the HO8 insurance policy. The HO8 policy was designed for houses that were extremely old and difficult to insure due to replacement cost being totally out-of-whack. This was often due to the fact that the house was built of unique and no-longer-used materials. The HO8, along with the HO1, is about the worst coverage you can purchase. No falling objects coverage, limited theft coverage, and don’t even think about any water damage being covered! This is one of the best but most absurd ways to lower your house insurance costs.