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Five Tips To Help You Save Money On Your Homeowners Insurance

Depending on the insurance company you choose to do business with, your insurance premiums can vary by hundreds, even thousands of dollars a year. And over time that can really add up.

With that in mind, here are some tips that will show you how to save a lot of money on your homeowners insurance …

Compare Rates From Other Companies

You can save the most amount of money on your premiums simply by comparing rates from a number of insurance companies. You can do this by visiting your local insurance agents offices, which can take a lot of time and effort on your part, or you can do it the quick and easy way by going to an insurance comparison website.

Insurance comparison sites let you compare quotes from top rated companies in the privacy and comfort of your own home. All you have to do is spend 10 or 15 minutes completing a simple insurance form with your personal information and the amount and type of insurance you want.

When youre done, you submit the form and in a matter of minutes youll begin to receive homeowners insurance offers from multiple insurers.

If youre not sure if a company is reputable, you can check them out online at the AM Best website, or your states insurance commission site. At these sites youll find information about a companys financial stability, and information about what companies have had complaints registered against them.

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Increase Your Deductible

Increasing your deductible is the next best way to save on your insurance policy.

A deductible is the amount of money you have to pay toward a claim before your insurance will pay. The higher your insurance deductible, the less youll have to pay in premiums.

Most insurers recommend you opt for a $500 deductible. If you increase you deductible to $1,000 you can save as much as 30 percent on your premiums. Just make sure you can cover you deductible in the event you need to make a claim.

Dont Insure Your House For The Sales Price Of The House

The sales price of your house included the price of the land the house sits on. This land is not at risk from fire, theft, acts of nature or other disasters, so you dont need to insure it. Just get enough insurance to cover the rebuilding costs of your house and any structure and landscaping you have on your property.

Strengthen You Home Security

If you have smoke detectors, dead bolt locks, window locks, a burglar alarm connected to the police department, or a fire extinguisher, you can get a 5 to 10 percent discount on you policy. Not only will you save money on these home security features, they may also save your life and the lives of your loved ones.

Bundle Your Homeowners and Auto Insurance Policies

When you purchase you home and auto insurance policies through the same company they will usually give you a 5 to 15 percent discount on your premiums. Just make sure the price they quote is less than the price you could get if you got your insurance through 2 different companies.

By following the tips above, its possible to cut you insurance bill in half.