5 Ways to Save on Homeowners Insurance
1. Raise Your Deductible
A higher deductible lowers your premium, but make sure it's an amount you could comfortably pay out of pocket if you needed to file a claim.
2. Bundle With Auto Insurance
Combining homeowners and auto policies with the same insurer often unlocks a meaningful multi-policy discount, sometimes 10-20% off each policy.
3. Improve Home Security
Installing a monitored security system, smoke detectors, or deadbolt locks can qualify you for discounts, since they lower the insurer's risk of a claim.
4. Maintain Good Credit
In many states, insurers use credit-based insurance scores to help set rates. Better credit often translates directly into a lower premium.
5. Shop Around Annually
Rates shift over time based on your insurer's broader claims experience, not just yours. Comparing quotes every year or two ensures you're not overpaying relative to the current market.
A Few More Worth Considering
- Ask about discounts for new roofs or updated electrical/plumbing systems.
- Consider raising your liability limits if your umbrella coverage needs adjusting, rather than dropping coverage entirely to save money.
- Review your policy annually as home value and contents change.
