There are several steps you can take to ensure you are getting the best Homeowners insurance rates possible for the coverage you need:
If you own a specialty property, see Historic Homeowners Insurance, Modified Homeowners Insurance, or Condominium, Townhouse and Homeowners Association Insurance for guidance specific to those property types.
Ways to get better homeowners insurance rates
Before purchasing a home, learn about its insurance loss history. If there have been past losses, inspect the home closely to determine if proper repairs were made. The CLUE and A-PLUS databases enable insurers to check the claim history of the property as well as that of the homeowner.
Raising your deductible is a common way to reduce premiums. Higher deductibles on your Homeowners insurance could produce savings of 25% or more, depending on your policy and insurer.
Consider upgrades to your home. Modernizing heating, plumbing, and electrical systems can reduce the risk of fire and water damage. You might also reduce storm-related risk by adding storm shutters, reinforcing your roof, or using stronger roofing materials. Older homes can be retrofitted to better withstand earthquakes. If you make improvements, notify your insurer so your coverage and discounts reflect the changes.
Improve your home security. Many insurers offer discounts (often at least 5%) for installing smoke detectors, burglar alarms, or dead-bolt locks. Some companies offer larger discounts—sometimes 15%–20%—for sprinkler systems and monitored alarm systems. Because not every system qualifies, check with your insurer about approved devices and expected savings before you buy.
Bundle policies by buying your Home and Auto policies from the same insurer. Companies that sell multiple lines often offer discounts of 5% to 15% when you combine policies with them.
Maintain a good credit rating. Many insurers use credit-based insurance scores as one factor when setting Homeowners and Auto premiums; a stronger credit profile can lead to lower rates all else being equal.
Frequently Asked Questions
How much can I expect to save by raising my deductible?
Savings vary by insurer, policy, and location; raising your deductible typically lowers premiums, so ask your insurer for estimates to compare options.
Will installing a security or sprinkler system always reduce my premium?
Not always—many insurers offer discounts for qualifying systems, but eligibility and discount amounts depend on system type and insurer requirements.
Should I tell my insurer about home improvements?
Yes. Informing your insurer about upgrades like a new roof or updated electrical system can ensure your coverage matches the home's current condition and may qualify you for discounts.
How does my credit score affect homeowners insurance?
Insurers often use credit-based insurance scores as one factor when pricing policies; maintaining good credit can help keep premiums lower.