How To Cut Homeowners Insurance Costs?

  1. 21750 POINTS
    Jim Winkler
    CEO/Owner, Winkler Financial Group, Houston, Texas
    That is a great question! There are a couple of quick things that might help. First, look at what policies you might be able to bundle with your homeowners, to get discounts offered by the insurer. For example, your auto insurances may be cheaper if purchased through the same company that insures your home. Many companies will give substantial discounts to have all of your business under their roof. The second thing is to look at raising your deductible. Generally a higher out of pocket on your end means a lower premium. Be careful not to set a deductible that is too high for you to cover though, should you ever need to. Lastly, revalue the contents of your home, and see if you can reduce the coverage that you'd applied for. Many electronic appliances in particular are much cheaper to replace today than they would have cost ten years ago. Speak to your agent, and have them help you find the best option for you. Thank you for asking!
    Answered on May 21, 2014
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  2. 14231 POINTS
    Tom Sheehan
    Agency Owner, The Thomas G Sheehan Agency, 27 Glen Road Sandy Hook, CT 06482
    Talk to your Insurance Professional about making sure you are taking advantage of any available discounts.  Many companies offer very nice discounts if you also insure your cars with them, this can save you quite a bit for sure, and some companies will deepen the discount if you also have Life Insurance with them.  Also ask about a discount for having a central alarm, a new roof, electrical, plumbing or HVAC upgrades.
    Answered on May 21, 2014
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  3. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Placing multiple lines of insurance with the same agent is usually a very good tactic to reduce the price of a specific policy.  Increasing the deductible, particularly on homeowner’s insurance is a sure way to reduce the premium.  However, most of my clients find that after a few years the coverage increases raise the policy limits and premium higher than necessary.  Your agent can recalculate the replacement cost of your home and this often results in a reduction in coverage and cost.
    Answered on June 4, 2014
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