6 Ways to Reduce the Cost of Home Insurance


Homeowners often don’t pay attention to the cost of homeowners’ insurance, considering it an unavoidable cost that they have little control over. However, you could bring down these costs by understanding what is impacting your rates and making a few modifications to your home.

Here are 6 ways to pay less for home insurance:

Think Twice Before Adopting a New Pet

While few can resist succumbing to the allure of a puppy’s eyes, for home insurance companies, dogs can be one of the most dangerous things in your home, accounting for approximately one in three claims. Getting a new pet can lead to increased rates, with even higher premiums for exotic pets.

Fence Off Your Swimming Pool

Swimming pools can be a potential safety hazard and can lead to increased rates for your home insurance. For added security, install fences, self-locking gates and have first aid equipment easily accessible.

Skip the Trampoline

Trampolines are the number one cause of injury for children and can result in a large spike in your insurance rates. Make sure to add in a safety net and only allow supervised playtime to reduce the chances of an accident.

Get Your Wood-Burners Certified

With wood-burning fireplaces and stoves accounting for more than one in three rural and residential home fires every year, they can have a big impact on your rates. Get your wood-burning stove installed by a licensed contractor and ensure that they meet the code requirements and submit the relevant documents to your insurance provider.

Get Additional Coverage

In the case that you are operating your business from home, the increased assets that need to be covered can lead to higher premiums, and getting a separate additional home business insurance policy can provide increased benefits and savings. Similarly, with stolen or damaged jewelry behind the most valuable items claimed and homeowner’s insurance usually covers only standard items, you can also look to get additional coverage for expensive items to reduce premiums.

Improve your Credit Score

With most states allowing insurers to use your credit report, your credit score can make a direct impact on the cost of your premiums. To pay low rates, maintain a healthy credit history by not accruing debt, paying your dues on time, and regularly verifying the information on your credit report.