We recently spent some time breaking down ways you can save on your auto insurance policy and now it’s time to look at money saving tips for your homeowner’s insurance policy. While some of the tips for auto apply to your home insurance, there are some key differences.

Just like with auto insurance, it is critical that you don’t simply shop for the “cheapest” rate. You need to protect you and those you live with from accidents and the costs that might result from them. Overall, the cost of homeowners insurance is minor for the peace of mind and protection you typically get from it.

However, not all homeowners policies are the same. You need to understand the individual coverages associated with your homeowner’s policy and what each includes. When you identify what you need, you’ll then be able to find ways to save. Here are some tips that will help you drive costs down without sacrificing coverage.

Shop Rates

Just like auto insurance, take the time to shop rates. Studies show that shopping rates can have a big impact on your rate, sometimes lowering it by hundreds each month. While rate shopping for homeowners insurance is a good way to save on your costs, it doesn’t mean you should sacrifice your coverage for the lowest rate. Go into the shopping phase with a strong sense of what you need for your home insurance and then see who can cover those needs at the best rate possible. 

Find an Independent Agent

Your local, independent agent is a great resource and partner for your home insurance needs. Why? Because they go out and shop competitive insurance companies to find you the right policy for your needs at the lowest rate possible. Also, the level of service independent agents can offer is a key differentiator for most of them compared to exclusive agents who only sell one brand of insurance product.

Bundle & Save

You’ve got a car and you’ve got a home – it only makes sense to take advantage of savings associated with bundling your policies together. In some circumstances it might not make sense, but at the very least you should talk to your insurance agent about opportunities to save by bundling auto and home.

Secure Your Home

By upgraded the overall structural strength of your home, you make your home less risky to insurance. As an example, by adding storm shutters or even deadbolts and window locks, you can help protect your home from storms and burglary. By making these minor changes, among many other updates, you could qualify for a lower rate.

Get to Know Your Provider’s Discounts

Every insurance company offers discounts. Some are common discounts offered by many, while other discounts are more obscure and are only offered by specific companies. Speak with your agent to get to know these discounts to see if there are any you might qualify for. As an example, some companies will offer discounts if you set up automatic payments.

Assess Belongings & Personal Property

If you recently sold some high-valued items or belongings, you might want to take a look at your high-limit insurance coverages. These are coverages you opted into to protect yourself if any valuable items were damaged or stolen from your home. If you’ve gotten rid of any items like this, you should definitely remove this type of coverage from your homeowner’s policy.

Raise Your Deductible

It’s a simple consideration for you to make – the more you increase your deductible, the lower your rate can become. If you’re a saver who has emergency funds and your house is a “low risk” home, you might consider raising your deductible in order to save on your rate.

Improve Your Credit Score

Just like with auto insurance, insurance companies use your credit score to determine how likely you are to make a claim and pay your bills. Make sure to resolve any minor debts, pay your bills on time and pay off any credit balances you can. Make this a priority and be sure to check your credit report for any potential errors.


A few of the money savings tips for homeowners insurance are much like auto, with some key differences. In addition to educating yourself on your policy and coverage options, work with a insurance agent that can guide you towards the best possible policy at the lowest rate given your unique home insurance needs. To get started, click here for a free quote.