Saving Money On Home Insurance

April 25th, 2009 | Posted in Hot Topics, Misc, Money Issues | Comments Off on Saving Money On Home Insurance

It’s no secret that saving money is on everyone’s mind these days. One of the things that you can save on is your homeowner’s insurance policy. All it takes is taking some time to do some research and make sure that you’re only paying for the coverage you need. Here’s a few tips for saving money on your homeowner’s insurance.

Shop around. This may take some time but it’s time well spent because of how much you can end up saving. You can start out asking friends and family about their policies and the companies they’re doing business with. Check out the Yellow Pages, contact the insurance department in your state. The National Association of Insurance Commissioners ( has information that will help you with information about insurers in your state. That site also lists complaints against insurers. States often make information available about the typical rates charged by the major insurance companies and information about consumer complaints against each company.

Check out consumer guides, private insurance agents, online insurance quote services. That can give you information about prices.

Consider raising the deductible for your homeowner’s insurance policy. That’s the amount you pay toward a loss before the insurance company pays anything toward a claim. The higher the deductible, the more money you save on premiums. Usually, most insurance companies will recommend at least a $500 deductible. If you can afford raising the deductible to $1,000, you could save as much as 25 percent.

Another thing is to buy both your home and auto policies from the same company. That could get you anywhere from 5 to 15 percent off the premium if you get two or more policies from the same company.

If keep your coverage with one company for several years, you might be eligable for a special discount.

Technorati Tags: car insurance, insurance policies, home insurance, saving money

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