Enjoy your home and save

5 Tips to Lowering Your Homeowners Insurance

It’s a good idea to review your homeowners policy at least every 12 months, or more often if your needs change. Significant discounts and savings may have become available since your last policy review. You might be surprised to find out just how much you can save.


1. Raise Your Homeowners Deductible

There are big opportunities for homeowner’s insurance savings by increasing your deductible. According to the Insurance Information Institute (III), if you can afford to increase your deductible, you may be able to save on your annual premium.


2. Multiline Policy Insurance Discounts

Purchasing your homeowners insurance and your car insurance from the same insurance carrier could save you up to 15% on both premiums.


3. Additional Security and Safety

Have you added new security devices to your home in the last year?  How about a burglar or fire alarm? Check out https://www.alarmnewengland.com/home-security to get an alarm system that controls your security equipment, lights, locks, thermostats, and cameras with a single app. These security measures could incur sizeable reductions on your premium.  What about a back-up generator?  Discounts may also be available if you have one.


4. Discounts for Home Improvements

A new home’s electrical, heating, and plumbing systems, and overall structure for that matter, are likely to be in better condition than those of an older home. If you have made any home improvements in the past year, you should check if a better rate is offered.


5. Eliminate Coverage You Don’t Need: Know your values

Ideally, you want your policy to cover any major purchases or additions to your home, but you should not spend money for coverage that you don’t need. It is in your financial best interest to compare the limits of your homeowners policy to the actual value of your possessions at least once every year.


It only takes a little time once a year to review your policy in relation to your changing living situation. It could result in some substantial savings. Do not hesitate to contact your agent/broker and discuss your policy.