5 Tips That Will Lower Your Homeowners Insurance Costs

We are all looking to save more money these days. Besides cutting coupons, carpooling, and other common cost saving ideas, many people fail to recognize savings on their homeowners insurance policies. There are simple things you can do to save on your homeowners insurance policy.

1. Save Up to 25% by Raising Your Deductible
According to the Insurance Information Institute (III), if you can afford to raise your deductible to ,000 from , you may save as much as 25% on your annual premium. Remember, homeowners insurance is not intended for small fix-it claims, therefore, the benefits of a lower deductible can be quickly dissolved by the higher rates that you will experience after making such claims.

2. Save Up to 15% When Insuring Your Car and Home
Purchasing your homeowners insurance and your car insurance from the same insurance carrier could save you up to 15% on both premiums.

3. Save Up to 20% for Additional Safety Features
Have you added new security devices to your home in the last year; perhaps a deadbolt lock, window locks, or even and an alarm system? Insurance companies highly value the protection afforded by burglar alarms and fire alarms - especially those connected to monitoring agencies such as your local police and fire department.

4. Improvements to Your Home Can Mean Savings
A new home's electrical, heating, and plumbing systems, and overall structure for that matter, are likely to be in better condition than those of an older home. Accordingly, their insurance rates are generally lower as the risk for a potential claim is mitigated. If you made any home improvements to your older home, update your homeowners insurance policy accordingly.

5. Eliminate Coverage You Don't Need
Ideally, you want your policy to cover any major purchases or additions to your home, but you should not spend money for coverage that you don't need. You may have appliances, electronics, and other valuable possessions that depreciate over time; therefore, it is in your financial interest to compare the limits of your homeowners policy to the actual value of your possessions at least once every year.

To make sure you have to right amount of homeowners insurance, compare multiple homeowners insurance quotes. Comparing homeowners insurance quotes will help you find the coverage you need at the lowest price.

Provided by InsWeb.com

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