Q: How can I save money on my home insurance?

Our agents have compiled the following tips to make sure you are getting the best rate possible on your home insurance. The cost of your homeowners insurance can vary greatly depending on the company you purchase from and the type of policy you have. Make sure to:

Review your Policy

Your home insurance policy should always be enough to cover the replacement cost of your home and its contents but shouldn't exceed that amount. Review your policy annually to make sure you are not over-insuring or under-insuring your home.

Shop Around

One of the best ways to save money on your home insurance is to shop around and get quotes from multiple companies allowing you to find the best rates. Luckily for you, at homeinsurance.com we take care of this for you by shopping multiple companies to find you the best home insurance policy available.

Some of our preferred partners include Travelers, The Hartford, SafeCo, Foremost, Progressive, and ASI/ARK Royal. . Read more about our preferred partners that we work with to find you the best policy.

Take advantage of Home/Auto Discounts

At HomeInsurance.com, we recommend insuring your home and automobile with the same company to take full advantage of home and auto insurance discounts. A home/auto discount is applied when you insure your automobiles and home with the same company. They will reward you with a discount on both policies- sometimes 10% or more- and save you even more money.

Raise your Deductible

Your deductible is the amount of money you must pay towards a claim before your home insurance company starts paying. Find out what deductible you are comfortable with and keep your deductible as high as possible. Making your deductible higher will lower your premium.

Upgrade your Home

Making your home safer and more resistant to disasters will decrease the chances of you having to file a claim. Home insurance companies will usually reward you for making upgrades such as purchasing storm shutters, a new roof, etc. Ask your home insurance agent about more ways to protect your home or read our Homeowner Tips.

Find Home Security Discounts

Most home insurance companies will give you a discount for having a functional home security system in your home. A home security system will protect your home from burglary and therefore allows you to remain claim free.

Ask about other discounts

Some companies will offer a lower rate for homeowners who don't smoke, for example. Make sure to ask your home insurance agent about all possible discounts and find out if they apply to you and your family.

Have other questions about home insurance or how to get started? Visit our FAQ page to see questions that have been posted by our customers. Or- post a question that you would like to see answered! Want to speak with one of our licensed agents? Enter your phone number here and one of our agents will call you. Or call an agent directly at 1-877-50-MyHome.

Last Updated: January 20, 2010 9:28 AM EST

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