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Saving on Home Owner's Insurance

By Jessica Hajjar

Here are some good tips to save on home owner's insurance:

It may seem obvious to some, but many home owner's completely neglect to shop around for quotes from multiple insurers, costing them money that could have been saved on a better deal. The internet, yellow-pages, and walk-in appointments are all viable options for getting different prices. Don't forget to check for an updated quote on a regular basis - not only during the initial process of finding home owner's insurance, but also afterwards, as many insurers will frequently change their requirements.

Another option that many home owners are aware of but often fail to take advantage of is the multi-policy saving that many providers offer when a customer takes insurance out on both their car and home with the same provider. Simply getting all of your insurance through the same provider can save you up to 10%, depending on the deals your provider may be running.

While you are dealing with your provider, it may also be smart to ask about their different deductible and premium rates. By increasing your deductible - the amount you are responsible for paying before your provider steps in - you can often save yourself 15% on your premiums. Do make sure that you will be able to afford paying the deductible in case of an accident, however.

Finally, if you aren't able to save anymore money by dealing directly with your provider, a good option is often to inquire about the savings your provider offers for added security on your home. Deadbolts, fire alarms, fire extinguishers, and other home safety systems will usually save you on your insurance premiums when installed in your home. Make sure you consult with your provider for a list of approved systems and the savings they offer, and be sure to analyze how long the savings will take to pay for the cost of installing the system.

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