5 Ways to Lower Your Homeowners Insurance Premium

Insurance Services Tips 

As a homeowner, you know that insurance is a necessary expense. But did you know that there are ways to lower your homeowners insurance premium without sacrificing coverage? In this article, we'll explore five ways to save money on your homeowners insurance.

1. Increase Your Deductible

Your deductible is the amount you pay out of pocket before your insurance kicks in. By increasing your deductible, you can lower your monthly premium. For example, if you currently have a $500 deductible, raising it to $1,000 could save you up to 25% on your premium.

It's important to note that while increasing your deductible can save you money in the short term, you'll need to have the funds available to cover the higher deductible in the event of a claim. Consider setting aside the difference in premium costs each month in a savings account so that you're prepared in case of an emergency.

2. Bundle Your Insurance Policies

Many insurance companies offer discounts when you bundle multiple policies with them. For example, if you have car insurance with one company and homeowners insurance with another, you may be able to save money by switching both policies to the same company.

Not only can bundling policies save you money, but it can also make managing your insurance easier by having all your policies in one place. When shopping for insurance, be sure to ask about bundling discounts and compare the total cost of all your policies with different companies.

3. Improve Your Home's Security

Insurance companies often offer discounts for homes with security systems or other safety features. Installing deadbolts, smoke detectors, and a home security system can not only make your home safer, but it can also save you money on your insurance premium.

Additionally, if you live in an area prone to natural disasters, such as hurricanes or earthquakes, installing storm shutters or reinforcing your roof can also lower your premium. Be sure to talk to your insurance company about any safety features you've added to your home to see if you're eligible for a discount.

4. Maintain a Good Credit Score

Your credit score can impact your homeowners insurance premium. Insurance companies use credit-based insurance scores to help determine your premium. Maintaining a good credit score, paying your bills on time, and keeping your credit utilization low can help lower your insurance premium.

If you're working on improving your credit score, be sure to talk to your insurance company about any discounts that may be available once your score improves. Some companies offer discounts for customers with good credit or for taking a credit counseling course.

5. Shop Around for Quotes

Finally, it's important to shop around for insurance quotes. Don't assume that your current insurance company is offering you the best rate. Get quotes from multiple companies and compare the coverage and premiums.

When shopping for quotes, be sure to ask about any discounts or special offers that may be available. For example, some companies offer discounts for being a member of certain organizations or for having a good driving record. Additionally, be sure to read the fine print and ask questions about the coverage and deductibles so that you can make an informed decision.


Lowering your homeowners insurance premium doesn't have to mean sacrificing coverage. By increasing your deductible, bundling policies, improving your home's security, maintaining a good credit score, and shopping around for quotes, you can save money on your insurance while still protecting your home and belongings.

Remember, it's important to review your insurance coverage regularly to ensure that you have the right amount of coverage for your needs. If you've made any significant changes to your home, such as adding a pool or finishing your basement, be sure to talk to your insurance company to make sure you're adequately covered. By taking these steps, you can save money on your homeowners insurance while still having peace of mind knowing that your home and belongings are protected.