How to Save Money on Home Insurance Premiums

Don't let the cost of your home mislead you from the cost of rebuilding it. You can save money on home insurance premiums by purchasing your home and car policies from the same insurance company. Making your home more resilient to disasters is one of the easiest ways to get a discount. Ask your insurance agent to review the discounts you may be eligible for.

Your insurance company may not be aware of recent changes that could allow you to save, such as installing fire alarms or a security system. Bundling discounts are the most impactful savings opportunities for homeowners, with Policygenius customers saving an average of 30%.If you have recently taken steps to protect your home, you may be eligible for a security discount. You can also save an average of 5% if you combine home and car insurance with Progressive. Make sure you can afford a high deductible if you need to file a home insurance claim.

Having coverage through the same company for several types of insurance can save you both types of insurance. If the insured property was built in the last five years, your insurer will likely give you a discount on your premiums. If you take out two or more insurance policies from the same company, your insurer can reward you with a discount per package or for several policies. If you bundle home and auto insurance with Progressive and both policies have a single incident, you'll only be responsible for one deductible. The final insurance policy premium for any policy is determined by the insurance company upon application. If you've been using the same insurance company for five or more years, most insurers will offer you discounts on future policies.

If your home meets certain criteria, or if you bundle several policies through the same insurer, those discounts and credits will automatically be included in your insurance premium when you receive a quote and your policy takes effect. Insurance companies will reward you with discounts based on the details related to you and your policy, as well as your home. Check with your particular home insurance company to see if they offer discounts, how you can qualify, and how much you can save.