4 Tricks to Lower Your Home Insurance Premiums

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If you own a home, your homeowner’s insurance premiums are one of your biggest costs. While this insurance is vital to help you recover if tragedy strikes, that doesn’t mean you shouldn’t work to bring down the cost of your premiums. Fortunately, there are several strategies you can adopt that lower the risk for the insurance company, meaning you can save money. To show you how easy it can be, here are four tricks to lower your home insurance premiums.

Improve Your Credit

If you have a lower credit score, you may be paying too much for your home insurance. If you can work to improve your credit score, you may be surprised to discover how much you save. Insurance companies look at credit scores because responsible financial behavior tends to translate to responsible behaviors around the home. This is just another reason to work hard to pay off your debts and ensure you always make payments on time.

Improve Your Home

While all home improvements can help increase your quality of life, some of them can also help lower your home insurance premiums. For example, basement waterproofing can make your life easier by preventing flooding during large storms. Since this water protection lowers your risk for a claim, it can also potentially bring your insurance premiums down. There are countless other similar improvements you can make to help save some money long-term.

Improve Your Security

Fires and break-ins are two of the most common claims that home insurers have to cover. Therefore, if you can help reduce the risk of these events, your insurer is likely to respond with a lower premium. The best way to do this is to install a centrally monitored home security system. Since you’ll be able to quickly access emergency services if you have a security system installed, it’s less likely that you’ll suffer a major loss if a fire or break-in should occur, thus lowering your insurance premiums.

Improve Your Bundling

For most people, auto and homeowner’s insurance are the only two types of insurance that are required by law. To try and save some money on both types of insurance, you can bundle them together from the same insurance company. To encourage more business, most insurance companies will offer a discount to customers who purchase multiple products. However, even with a bundled price, it may still be less expensive to buy your insurance from different companies, so it’s important to shop around.

Any major changes that you make to your home could affect your homeowner’s insurance premiums. Since you want to be sure that your home is always properly insured, it’s a good idea to check with your insurance company before making these changes. This will guarantee that you’re covered if something happens so that you don’t end up on the hook for the cost of repairs.


Meghan Belnap is a freelance writer who enjoys spending time with her family. She loves being in the outdoors and exploring new opportunities whenever they arise. Meghan finds happiness in researching new topics that help to expand her horizons. You can often find her buried in a good book or out looking for an adventure. You can connect with her on Facebook right here and Twitter right here.


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