How to Lower Home Insurance Costs

Your homeowners insurance premium is one of those bills that can sneak up on you, especially if you haven’t reviewed your policy in a while. The good news is that there are simple ways to cut costs without sacrificing coverage.

What Factors Influence Homeowners Insurance Rates?

Insurance companies look at several details when setting your rate. Some are out of your control, but others can be adjusted to help you save. Here are the most common factors:

• Location

• Home value and rebuilding cost

• Age and condition of the home

• Claims history

• Credit score

• Deductible amount

• Home features that can increase your risk profile (e.g., pools, trampolines)

Easy Ways to Save on Home Insurance

Cutting your home insurance bill doesn’t require a significant overhaul. With a few quick adjustments, you could start trimming costs almost immediately.

• Shop around regularly—Compare quotes from different providers every few years to find a better rate.

• Raise your deductible—Opting for a higher deductible can lower your monthly premium.

• Bundle policies—Combine your home and auto insurance with the same company to unlock discounts.

• Install safety features—Add smoke detectors, deadbolts and security systems to reduce risk and qualify for savings.

• Ask about discounts—Some insurers offer lower rates for being claim-free, working in certain fields or staying loyal.

• Review your policy annually—Make sure you’re not paying for coverage you no longer need and check for new discount opportunities.

Contact Us

The insurance professionals at Russell Harding Insurance are well-equipped to answer any questions you may have about insuring your home. Contact us today to request a free quote.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.