1. 1909 POINTS
    HDA Insurance Brokerage
    Director, HDA Insurance Brokerage, California
    In order to Reduce your Homeowners Insurance Premium, there are a few options that may be applicable to your situation.  

    Firstly, you may ask your insurance company to recalculate the reconstruction estimate of your dwelling;  if their updated calculation is less than the Coverage A - Dwelling amount on your policy, you may be able to request the reduction of coverage thereby reducing the premium. 

    You may wish to review any additional endorsements which you may have added to the policy when initially purchased,  if any of these endorsements are no longer needed, you may be able to delete the endorsements thereby reducing your premium.   Also, you may wish to review any other optional limits of coverage on your policy which may have been increased in order to provide more protection thereby increasing your premium. 

    One of the most obvious items is to request a higher deductible resulting in perhaps a substantially lower premium. 

    There may be additional credits or discounts available on the policy which you are not presently receiving;  i.e.   Marital Status Discount,  Age Related Credits,  Occupation Related Credits, Non-Smoking Credits,   Central Station Alarm Monitoring Discount,  Interior Fire Sprinkler Discount,  Gated Community Credit,  Multi Policy Credit and Accredited Builder Credit.   Although most carriers do have some discount options,  carriers do not all offer the same credits on their insurance programs. 

    It would be a good idea to review your coverage from time to time in order to assure that you are still properly insured as well as paying the correct premium and taking advantage of any available program discounts. 
    Answered on August 2, 2014
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