Owning property is a great investment opportunity. The key to making the investment profitable is to make sure each piece of property is sufficiently insured. While combining multiple properties in one policy is nothing new, there are other ways you can make your property insurance more affordable. Working with your insurance provider will allow you to explore multiple discounts you may be able to take advantage of.
To get you started, here are five ways in which you can reduce the cost of your property insurance.
Comparison shopping is a great way to find the lowest possible rates. Before you choose one policy, make sure you look at four or five first. Comparing multiple policies will give you more options to choose from. If you already have a policy, let your agent know that you are looking at other options. This may encourage them to come up with a better deal.
Improve Curb Appeal
Curb appeal is everything. Improve how your business looks on the outside. Burglars and vandals are less likely to target a well-kept business. Keep the yard nicely landscaped. Add a few exterior lights and make sure the windows are always clean and polished. Make sure any signage is also well-lit and as visible as possible. Make your business look like a million dollars. This way, you will attract more customers and save money on your insurance rates.
Improve Your Security and Fire Systems
Install a security system and improve your fire safety protocols. Hire a third-party monitoring system to keep an eye on your surveillance cameras. Most security systems are capable of having third-party monitoring, and having a subscription with a reputable company will justify the costs in the long run. A good security system will also monitor the environmental factors, informing you of a drop in temperature or an increase in moisture.
Increase Your Deductible
Increasing your deductible will lower your monthly premiums. There are several ways to lower your monthly premiums. In addition to increasing your deductible, you can also choose to pay your premiums by the year instead of the month. This may add up to a substantial amount of money over the years.
Require Renters Insurance If You Have Tenants
If you own a building that has tenants, make sure that each one carries their own renters’ insurance policy. This will save you in the long run in case an accident occurs on your property. While it’s unlikely that someone will come after you if they were in someone else’s home, it’s better to be safe than sorry.
If you own property and need to buy a new policy or review an old one, call an expert you can trust. Call our agents at J. Archer Insurance Group to find out what type of policy is best for your property. Ask questions and look for additional discounts. Saving money is easy if you know where to look. All our agents have the knowledge and experience to guide you through the process. We will make sure you have access to the best discounts and the lowest possible rates. Contact us today to get started!