4 ways to save on your homeowner insurance premiums


Packaging your home and auto insurance is a common way to save on your insurance premiums.

Looking for ways to save on your homeowner insurance premiums? Here are a few easy strategies that may lower your homeowner’s insurance premiums without reducing the amount of coverage.

  1. Increase your deductible
    A deductible is the portion of any covered loss that you pay before your policy provides payment. You can usually lower the cost of your insurance when you increase your deductible. You start saving right away and pay the deductible amount only if you have a covered loss. For many insureds, the premium savings over time more than makes up for the occasional, out-of-pocket expense of a deductible.
  2. Insure both your home and auto with the same insurance company
    If you package your home and auto coverage, you often receive additional savings on your home, condominium or tenants policies and on your auto insurance premiums. For even more savings, you can package your insurance for your boat, motorhome, jewelry, rental properties and more with your homeowner coverages.
  3. Improve your home security
    You may be eligible to save if you have the following protective devices:

    • Smoke detector
    • Fire and burglar alarm that rings at the police, fire or other monitoring stations
    • Sprinkler system alarm
    • Secured community
    • Temperature monitoring system
    • Backup generator
    • Automatic water shut-off system
  4. Age 50 or Retired?
    Retired people on average stay at home more and spot a loss situation like fire or water leak sooner than working people. They also have more time for maintaining their property. If you are at least 50 years old or retired, you may be eligible for a discount. For information more on the discounts offered in your state, a quote or policy service, please contact your local independent insurance agent.

Coverages described here are in the most general terms and are subject to actual policy conditions and exclusions. For actual coverage wording, conditions and exclusions, refer to the policy or contact your independent agent.

Share This Blog:


5 Responses to “4 ways to save on your homeowner insurance premiums”

  1. Jay Jorgenson

    I really like what was said about saving money on your homeowners insurance premiums. The part that made the most sense to me is if you have a security system installed in your house then the price of your premium goes down. Insurance providers want to invest in as little risk as possible when offering you a plan.

  2. Troy Blackburn

    That’s an interesting point about how retired people stay home longer and are able to spot a loss situation like fire or water leak sooner than working people. I’ve heard that if, year after year, you prove to the insurance company that you’re responsible and take good care of your home, the rates can lower gradually each year. Is that true? I’ll have to keep this stuff in mind as my wife and I just bought our first home and are considering insurance.

  3. Luke Smith

    I didn’t realize that having a smoke detector and a burglar alarm could actually lower the cost of homeowners insurance! I guess now that I think about it totally makes sense though, since those are two things that could save your insurance company from having to pay out on a claim. I would imagine that the discount would offset the cost of installing systems like that and make it much more affordable for people.

  4. Scott

    I like that you suggest to raise your deductible in order to save money on the premium. I can see why this would only end badly if something did happen. You might consider also asking the insurance what they recommend you do. Perhaps they have some program that you could take advantage of in order to save on your insurance.

  5. John

    I have been looking at how I can lower the premium for my homeowner’s insurance, so I’m glad I found this article. I don’t think I want to increase my deductible any higher than it is right now, so the suggestions about improving security was interesting to me. I guess I hadn’t really considered that a fire sprinkler system would be able to reduce my premium, but I wouldn’t be opposed to having one installed in my home.

Comments are closed.