How to Find the Best Deal on your Homeowners Insurance Policy

Posted September 16th, 2009
by HomeownersInsurance.org Staff (no comments)

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The cost of homeowner’s insurance, just like any other type of insurance, can vary widely from one company to the next, and from one circumstance to the next. It is, therefore, in your best interest to shop around for the best rate on your homeowner’s insurance policy, as well as to learn the many ways in which you can save on your monthly premiums.

  • Shop Around for the Best Deal – Take the time to research all of the homeowner’s insurance companies in your area, and ask friends and family for referrals. In addition, you can contact the National Association of Insurance Commissioners (NAIC), who can help you locate a homeowner’s insurance company in your state. The NAIC can also provide you with the average rates of different homeowner’s insurance companies in your state so that you can save time researching this information for yourself.
  • Consider Raising your Deductible – Often times, the easiest way to decrease your monthly premium is to simply raise the deductible on your homeowner’s insurance policy. In other words, if you currently have a deductible of $500, consider raising it to $1,000 – doing so could save you as much as 25 percent on your monthly premiums!
  • Combine and Save – Many insurance companies will offer their customers deep discounts if they purchase two or more policies.  It pays to ask your auto insurer if they also carry homeowner’s insurance, as this could save you a considerable amount of money each month.
  • Step up your Home’s Security – Did you know that your homeowner’s insurance company can offer you discounts on your homeowner’s insurance if you install deadbolts or secure your home with a burglar alarm? You can really save money if you have more advanced forms of protection, such as sprinkler systems or alarm systems that are connected to emergency services.
  • Stick with your Current Insurer – Many homeowners’ insurance companies offer their loyal customers nice discounts. If you have been with an insurer for an extended period, make sure to ask them for a discount because of your loyal policyholder status.
Categories: Advice

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