The best thing to do is to shop around. You could find quotes on homeowners insurance that vary by hundreds of dollars for the same coverage on the same home. When you shop, it’s important to compare apples to apples — make sure each insurer is offering the same coverage. Another way to cut costs is to look for discounts that apply to you. For example, many insurers will offer a discount when you buy both your automobile and homeowners insurance from them. Some insurers offer discounts if you have deadbolt exterior locks on all your doors, or if your home has a security system. Ask your agent or company about discounts. Another easy way to save is to raise your deductible. Increasing your deductible from $500 to $1,000 will lower your premium. However, you should be sure you have enough cash on hand to cover the larger deductible in case of emergency. Additionally, you can save on service charges when paying your homeowners policy annually instead of monthly. |
