How to Save on Home Insurance


Given how much your home costs, it’s important to have a home insurance policy that protects your home and possessions. However, over a period of time, your premiums can really add up. So, we’ve listed some tips to help you save money on your home insurance coverage.

Lump Your Policies Together

Rather than getting different policies from different insurance providers, consider buying all your insurance policies from the same provider. Doing this could help you get a discount.

Increase Your Deductible Amount

When you file a claim on our policy, you will need to pay something called a deductible, which is a certain amount of money that you will need to pay for. Only once you pay this amount will the insurance company’s coverage kick in. Given this, increasing the deductible amount can help you save on the premium. However, if you do this, you should ensure that you are able to pay your share of the deductible at the time of a claim.

Avoid Filing Small Claims

While your policy is meant to protect you financially, it’s best to avoid filing small claims since it will likely increase your premium the following year. So, if you notice any damages in your property, you should review the loss and assess if it is worth filing a claim.

Improve Safety Measures

Installing security devices in your home can help you save on your insurance premium, given that it lowers the risk for the insurance company. If you do happen to install any security devices, make sure to inform your insurance company about this.

Look out For Discounts

Insurance companies offer a number of discounts, and you may actually qualify for some of these discounts. However, it’s unlikely that the insurance company will offer you these discounts automatically. So, make sure to ask if there are any discounts that you may be eligible for.

In addition to these tips, ensure that you compare the rates for policies offered by different home insurance companies so you are able to pick a policy that has a competitive rate. It’s a good idea to do this each time you need to renew your policy as well.