Consumer Guide to
Homeowner's Insurance Savings
Raise your deductible to lower your premium rate. If you have a $250 deductible, consider raising that. Make sure your deductibles are set to an amount you can comfortably afford.
Explore "package discounts" that may reduce your rates if you insure your home and cars with the same company.
Install dead bolt locks on all exterior doors. This will deter break-ins -- a worthy goal in itself-- and often will qualify you for a premium discount.
Install smoke alarms in your house. Since fire losses are one of the most expensive types of claims for insurers, they want to encourage you to have an early warning system in case of fire. By installing one or more smoke alarms, you may be entitled to a premium discount.
If you have a nonsmoking household, be sure to let your agent or insurer know. Smokers in a home represent a higher risk because of the possibility of an accidental fire. If your household consists totally of nonsmokers, ask about a premium discount.
Consider installing a sprinkler system. Fire suppression systems may make you a more attractive customer for a homeowners insurer. If you've gone to the expense and trouble of installing such a system, you should be rewarded for your efforts.
Prevent losses from break-ins with home security systems, such as special lighting and burglar alarms. Insurance companies encourage their policyholders to adopt these measures and may offer a premium discount for having some sort of home security system in place.
Find out about special discounts offered by your insurance company or agent. You may qualify for a reduced rate if you are over 50 years old, live in a gated community, etc. Ask your insurance company or agent about available discounts.
Be sure to review your policy annually with your agent or customer service with your agent or customer service representative. When comparison shopping, be sure to look at coverage terms, service and pricing that is best for you. Prices may vary by hundreds of dollars, so consider the importance of quality service -- not just price alone.