Reduce Homeowners Insurance Rates

5 Techniques to lower your homeowners insurance costs.
The price you pay for your homeowners insurance can differ by hundreds of dollars, according to the homeowners insurance provider you buy your homeowners insurance policy from. Here are some facts to consider when choosing homeowners insurance.

Increase Your Deductible
Homeowners Insurance deductibles are the amount of cash you must pay toward a loss prior to your homeowners insurance company starts to pay a claim, according to the terms associated with your policy. The greater your deductible, the more cash you can save on your premiums. These days, most homeowners insurance companies recommend a deductible of at least $500. If you can afford to raise your deductible to $1,000, you might save as much as 25 percent. Bear in mind, if you live inside a disaster-prone area, your homeowners insurance coverage may have a separate deductible for particular kinds of damage. If you reside near the shoreline in the East, you could have a separate windstorm deductible; if you live in a state prone to hail storms, you may have a separate deductible for hail; and if you live in an earthquake-prone area, your earthquake policy carries a deductible.

Don't confuse what you paid for your house with rebuilding costs
The land beneath your house isn't at risk from theft, windstorm, fire and the other perils included in your homeowners insurance policy. So don't include its value in deciding how much homeowners insurance to buy. If you do, you'll pay a higher premium than you should.

Purchase your homeowners insurance and auto insurance policies through the same insurer
Some companies which sell homeowners insurance, auto insurance and liability coverage will take 5 to 15 percent off your premium if you purchase 2 or more policies from them. However make certain this combined price is lower than buying the different coverages from different companies.

Another method to reduce homeowners insurance costs are to make your home more disaster resistant. Find out from your insurance agent or company representative exactly what steps you can take to make your home more resistant to windstorms and other natural disasters. You may be able to save on your homeowners insurance premiums by adding storm shutters, reinforcing your roof or buying stronger roofing materials. Older homes can be retrofitted to make them better suited to withstand earthquakes. In addition, think about modernizing your heating, plumbing and electrical systems to decrease the risk of fire and water damage.

Improve your home security
You can typically get discounts of at least 5 percent for a smoke detector, burglar alarm or dead-bolt locks. Some companies offer to cut your homeowners insurance premium by as much as 15 or 20 percent if you install a sophisticated sprinkler system and a fire and burglar alarm that rings at the police, fire or other monitoring stations. These types of systems aren't cheap and not every system qualifies for a discount. Before you purchase such a system, find out what kind your insurer recommends, how much the device might cost and how much you'd save on your homeowners insurance premiums.

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