The premiums of this necessary insurance coverage, are expenses that will continue as long as you own the structure. Below are actions you can take to lower the premium you pay for homeowners insurance.

Consider buying your homeowners and auto insurance policies from a company that offers both and bundling them together. Some companies offer discounts ranging from 5% to 15% if you buy both types of coverage from them. Check around and make sure the price is lower than buying the two policies from two different companies before making this move.

Some home insurance companies offer discounts to homeowners for good behavior such as performing regular maintenance on the structure. There may also be discounts for safety features within the home. For example, installation of centrally monitored smoke and fire detectors. A centrally monitored detector are those monitoring systems that notify emergency services outside of the home.

Other Homeowners Discounts

Some companies offer longevity discounts if you’ve been with them for several years. Typical discounts are 5% if you’ve been with the company for three to five years, and 10% for six years or more.

Finally, if you’re over 55 and retired or disabled, you may qualify for additional discounts.

 The riskier a person or property is to insure, the higher the price tag for insurance climbs. Ask your insurance agent what you can do to make your home less expensive to insure. Making changes that reduce the risk of damage in windstorms and other natural disasters is one example.

Depending on where you live, your credit score could have an impact on the rates you pay for homeowners insurance. If you want to get your credit in shape, stick to practicing good credit habits. Don’t have too many open credit accounts, don’t charge close to the limits on your credit cards, and pay all your bills on time to keep your credit score healthy.

Get quotes from at least three different agents and compare prices. Make sure you are not shopping too far into the bargain basement. Check that the provider is rated highly when it comes to serving customers filing claims. Your state insurance department may have rate comparison information available for your state.