6 Strategies to Save on Home Insurance Premiums

Home insurance premiums have been rising sharply — in some markets by 20–30% or more in a single year. Here are six strategies to keep your costs under…

Home insurance premiums have been rising sharply — in some markets by 20–30% or more in a single year. Here are six strategies to keep your costs under control without sacrificing protection.

Shop Around Every Year

Loyalty rarely pays in insurance. Get competing quotes from at least three carriers annually. The difference between the highest and lowest quote for the same coverage can be substantial. Use an independent broker who can access multiple insurers.

Increase Your Deductible

Raising your deductible from $1,000 to $2,500 or $5,000 can significantly reduce your premium. This strategy makes sense if you have the savings to cover a higher deductible in the event of a claim — and if you use insurance for major losses, not minor ones.

Bundle Your Policies

Most insurers offer meaningful discounts (10–25%) when you bundle home and auto insurance. Make sure the bundled price is actually cheaper than buying separately.

Improve Your Home’s Resilience

Upgrades that reduce the risk of loss often come with premium discounts: new roof (especially impact-resistant roofing), updated electrical and plumbing, storm shutters, whole-home backup generators, and monitored security/smoke systems. Ask your insurer what upgrades qualify for discounts.

Improve Your Credit Score

In most states, insurers use credit-based insurance scores to price policies. A better credit score can meaningfully lower your premium. This is one more reason to keep your financial house in order.

Review Your Coverage Annually

Make sure you’re not over-insured (paying to insure land that can’t burn or be stolen) or under-insured (leaving a gap between your policy limit and what it would actually cost to rebuild). Get a replacement cost estimate and align your coverage accordingly.