From Fur Babies to Fire Hydrants: Your Home Insurance Premiums

When I got my kids a dog, I had no idea that it could affect my homeowners insurance. I happened to run into my insurance agent in the store when I was buying dog food and he asked me what kind of dog we had. When I told him, he said I should stop in the office the next day. I had no idea that things like this could affect premiums, so I started asking what else could do it as well. I created this site to help others understand some of the finer points of homeowners insurance and what they should think about to manage their rates.

3 Ways To Save On Homeowners Insurance

Insurance Blog

Purchasing a home is a major investment. In fact, buying a home is typically one of the biggest financial decisions you will make in your lifetime. Since it has such a big impact on your financial life, it's important to protect your investment. Homeowners insurance protects your home and belongings in the event of natural disasters and other situations. While it is a necessity, it can be pricey. The average premium is $1,192 but rates can vary drastically depending on where you live. If you are looking to save on your premiums, here are three things that can help.

Consider Bundling

If you have a homeowners insurance policy and also carry auto insurance, bundling the two can mean big savings. It may come as a surprise, but you can see savings between 10 and 20 percent on each policy when you bundle home and auto insurance together. There are also other benefits to having both policies with the same company in a bundle. Bundling simplifies the payment process and also helps strengthen your relationship with your insurance company since you carry multiple policies.

Look For Discounts

Another thing to consider doing if you are looking for a way to save on homeowners insurance is to take advantage of any discounts available to you. There are various discounts that you may qualify for but you have to ask about them. Some things that can earn you a discount include installing a security system, living in a gated community, being claim-free, making improvements to your home, and taking steps to make your home more fire-resistant. If you want to save, asking your insurance company about potential discounts is a must. 

Shop Around

Like other types of insurance, if you are not shopping around, you could be missing out on big savings. Getting quotes from multiple insurance policies is the best way to find homeowners insurance that offers the coverage you need for a price you can afford. It's recommended that you get quotes from at least three insurance companies before deciding on a policy. However, make sure you look at more than just price. It's important to go with a policy that offers the best coverage for the best price, something that may not be the cheapest overall.

If you are looking to save on homeowners insurance, there are a few things that you can do. First, bundling home and auto insurance can mean significant savings. Many insurance companies also offer discounts. Asking your current insurance company about these discounts can mean more money in your pocket. Shopping around and getting quotes from multiple insurance companies can also help you get the best deal on your policy.


13 November 2019