Save Money With Lower Home Insurance Rates!

Save Money With Lower

Home Insurance Rates!

Five Ways to Save on Homeowners Insurance

The comfort that comes from knowing that your home is protected by insurance is almost beyond compare. But did you know you may be paying more for that peace of mind than necessary' Here are some tips on how to lower the cost of homeowners insurance:

Comparison shop. Compare the policy you presently have with what other insurers are offering. This can easily be done online at sites like Make sure, however, that you are comparing apples to apples. In other words, be certain that each policy you are comparing is referring to the same amount of coverage for the price. You can also even tell your present insurer that you are shopping around and want to know what they can do to lower your costs without sacrificing service quality.

Purchase your homeowners and auto insurance from the same company. When an insurer can bundle products, you always get a cost savings. Experts say you can take 5 to 15 percent off your premiums with such a move. Prior to committing to one company though, make sure its rates are lower than what you would have to pay if you took out policies from different insurers.

Bump up your deductible. Your deductible is the money you must pay before your insurance company's coverage kicks in. By opting for a higher deductible, you can lower your premium costs by as much as 25 percent. Keep in mind, however, that if you live in a geographic area that is prone to natural disasters —for instance near a river or in an earthquake zone, you may have a separate deductible for, say, flood or earthquake coverage.

Make your home more resistant to disasters by updating and modernizing heating, electrical and plumbing systems, as well as installing other systems that can help you fend off natural disasters. For instance, if you live near a river, install a French drain in your basement to prevent floods, or if you're living in an earthquake-ridden region, do some retrofitting to prevent future damage.

Enhance home security. With the installation of such devices as a burglar alarm, shatter-proof windows, dead bolt locks and smoke and carbon monoxide detectors, you can get discounts of up to 5 percent on the price of insurance, and some companies may even offer to lower your premiums by 15 to 20 percent if you get sophisticated equipment that instantly alerts the police, fire department or a monitoring station when something goes wrong in your home. Be aware that these types of systems can get costly, so you should therefore consult with insurers before purchasing them to be certain that they will result in premium reductions.

In sum, if you do some online research comparing insurance companies and their policies, there are several ways you can cut down on the cost of your homeowners insurance.  The time invested in this research can pay off financially and provide you with the security you need to fully enjoy your home.