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Save Money on Your Homeowners Insurance

Updated on July 25, 2012

Tips for Saving Money on Home Insurance

Cheaper Home Insurance

The price of insurance is going up these days and it is important for you to get the best quality insurance at the best possible price. There are ways to be sure you are getting the best available price on your home insurance and still maintain quality coverage. You don’t have to give up quality to save money when shopping for insurance. If you ask the right questions you can save hundreds of dollars a year.

Auto/Home Discounts

Most insurance carriers offer multi-line discounts on your policies when you carry both your home and auto insurance policies with them. The average discount for carrying both policies with the same carrier is about 8% per line. If you choose to carry your life insurance through the carrier it can be an addition 8% discount across both lines of insurance. Not only will this save you money, you will have the convenience of having your policies in one place.

Professional Discounts

If you are a member of a professional organization you may qualify for an additional discount. Many insurance carriers will give you a discount is you are a teacher, nurse, CPA, or a member of a credit union. There are a variety of career fields and memberships that qualify for this discount. You should check with your current carriers to see if they offer these types of discounts. Be sure to ask about this discount when shopping around for a new company. These discounts can total 10% or higher, depending on the company.

Policy Review

It is important to review all of your insurance policies at least once a year. Your home insurance carrier should send you out a policy renewal package 30 to 60 days prior to your renewal. Always check the dwelling coverage amounts, personal property coverage, and liability limits on your policy. If you find that your home is insured a higher amount than it will cost to rebuild you should have this revised. If you choose to raise your deductible you may save more on your home insurance as well.


Many companies will give you a discount for longevity at their company. If you want cheaper home insurance, you should stay with a company for at least a year. The second year you are insured you don’t pay the initial policy fees you were charged with your brand new policy. If you don’t have any claims over the year you may be eligible for a discount for being claim free. This discount can be 6% or more depending on the company.

Shop Around

The best way to be sure you are getting the cheapest home insurance available is to shop around for quotes. Quotes are free and readily available. When calling for a new quote on your insurance have your current policy with you so you are able to compare coverage’s and deductibles. Once you have the verbal quote, if you are please with it, have the company send you a copy either by email or regular mail.


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    • KimberlyLake profile image

      Kimberly Lake 5 years ago from California

      @JustUKInsurance Thank you for you comment and input. Thanks for another good tip.

    • JustUKInsurance profile image

      JustUKInsurance 5 years ago from Gloucestershire

      Sound article.

      You can also save money by installing various safety features, like Window Grilles and alarms etc