How Can I Reduce The Cost Of Homeowners Insurance?

1. 

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   David Osgood

   Agent, Rural Mutual Insurance Co., Union Grove, WI

   The quickest easiest way to lower the cost of your current homeowners insurance policy is to raise the deductible on the policy. If that is not a viable solution for you then you may wish to seek another carrier for your coverage. Checking your rate with other carriers within your area may show you that a savings is available. Remember every policy is different. Please read your policy completely to understand the coverage provided and any exclusions that there may be or contact your local agent to have them go over the policy with you.

   Answered on September 10, 2013

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   Tom Sheehan

   Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482

   Different providers offer solutions for insuring your home and managing the cost of that protection.  There are several things that you should be able to consider when looking for Home insurance and it is best to consult your insurance professional.  Generally speaking, you may find that it is less costly to insure a newer home vs an older one.  Choosing a $1000 deductible rather than a $500 or $250, will reduce your premium.  Install a central monitored security and fire system and that may save you about 10%.  Always ask about bundling your Home, Auto and Life insurance plans because these bundling plans can really save you money.  Check to see if your carrier offers discounts for installing a new roof or upgrading your plumbing, electrical or HVAC systems.  Finally, maintain your home.  Fixing small problems as they show themselves will usually keep repair costs down.  Maintaining your home and property is also the best way to protect it from storm damage.

   Answered on September 10, 2013

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3. 

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   David W. Clausen

   Chief Executive Officer, Coastal Homeowners Insurance Solutions, Rocky Point, NY 11778

   There's several ways to lower your homeowners insurance premiums. You can raise your deductible. Many deductibles offer percentage discounts of up to 40% of the base premium. Another way is to lower your coverage. I would speak with your agent before lowering any coverage. Another way is to install a central station alarm system. This can lower your premium up to 10%. Also you can exclude "off-premises theft coverage". This is another 10% discount and will exclude any items that are stolen away from your home. Hope this answer helps. Again, always speak with your local independent insurance agent or broker before making any changes to your policy.

   Answered on December 1, 2015

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