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What you can do to reduce your homeowners insurance premiumThink your homeowners insurance premium is too high? Other than moving, what can you do? Here are some practical ideas for reducing your insurance costs:Increase your deductible. The higher the deductible, the lower the premium on your policy. Just make sure you choose a deductible that you can afford if you suffer a loss. Use one company. Many insurance companies offer discounts if they insure your home and your cars. Install smoke detectors, carbon monoxide detectors and burglar alarms. This type of equipment naturally protects you and your family, and some companies offer discounts depending upon the type and sophistication of the equipment. Stop smoking. Many insurance companies offer discounts if no one in your family smokes. Stay with your current insurance company. If you’ve maintained coverage with a company for a number of years, you may be given a discount for your loyalty. Practice safety. You could be in line for a discount if you haven’t had any losses for a certain number of years. Contact your independent insurance agent for more ideas on ways to reduce your homeowners insurance premium.
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