Lower Your Home Insurance Cost: 5 Ways to Save Money

Homeowners insurance protects families from unexpected events such as natural calamities, house fires, and theft. It’s a necessary expense that comes with owning a house and an important safety net that will cover potential losses and damage.

People think that just because their insurance company has given them a price, it’s already the best they can get. While the notion has some logic, that may not necessarily be true! As such, it’s worth checking in on an insurance company’s discounts and incentives to help shave money off your insurance premium.

Here are five ways you can save money without affecting your coverage:

1. Ask about discounts

Your home and your household may be eligible for savings and discounts you haven’t even heard about—you’ll never know unless you check!

Some insurance companies offer additional discounts for the following:

  • A brand new homeowner;
  • Homeowners aged 55 years old and above;
  • A non-smoking household;
  • Teachers, firefighters, engineers; and
  • Premiums paid through automatic bank payments.

2. Make Home Improvements

Home improvement projects could earn you a discount on your home insurance premiums. Upgrading or adding features that make your home safer will not only protect you in the long run—it will save you some money, too!

Adding smoke detectors and deadbolt locks can earn you a 5% discount, while actively monitored fire and burglar alarms, as well as CCTV camera systems, can save as much as 20%. Some insurance companies even offer up to 40% discounts for significant security and safety upgrades. It’s best to consult with your insurance provider to determine what upgrades they recommend and how much you’d save.

Once you’ve upgraded your electrical system or installed impact-resistant roofing, you can contact your insurer and request a new evaluation of your home. Any feature that reduces risk and raises your home value will likely be eligible for further discounts!

3. Increase Your Deductibles

Deductibles are the amount you pay before your insurance policy pays a claim. Most home insurance policies start with a standard $500 claim. Boosting that deductible to $1,000 can reduce your premium by up to 20%. Only raise your deductible by an amount you can afford to pay out of pocket and ask your insurance agent about the possible discounts you can get.

If you’re not going to file a claim below $1,000 anyway, then you can be eligible for a discount in another way—avoiding small claims. Paying out of pocket for minor damage can save you money in the long run. Some insurers even offer discounts if you remain claim-free for several years.

4. Raise Your Credit Score

Your credit score impacts all aspects of your financial life, and homeowners insurance is no exception! A low credit score will lead to higher insurance rates—so it’s worth it to stay on-time with debts to fix this aspect of your finances.

You can work on elevating your credit score by paying off credit card debt and paying bills on time. Once you’ve raised it by a significant amount, you can contact your agent to reevaluate your insurance premiums.  

5. Research, Research, Research

Home insurance coverage varies significantly from one company to the next. You don’t have to stick with the insurer that your mortgage lender recommends; it’s still best to do your research and shop around for the best policy you can find.

Track down information on how major insurers charge rates. In most states, you can also access consumer complaint data! Get quotes from at least three insurers and compare value for money and the type of service they offer.

Once you’ve chosen an insurer, the work doesn’t stop there. Look over your policy every year and chat with your insurance agent to discuss all the credits and discounts you may be entitled to. Personal situations and insurance company policies change drastically over time, so it’s worth the effort to check in from time to time.


Home insurance rates and policies vary depending on the companies offering them. By doing your research and arming yourself with knowledge, then it will undoubtedly lead to long-term savings for you. If you’re not sure about your options, then you’d best partner with a reliable insurance broker near you.

Are you on the hunt for a provider of affordable home insurance in Delray Beach? The Apex Insurance & Investment Group Agency can help assess your home and give you the right policy to cover all your needs. We provide Florida individuals and businesses with the coverage they need to ensure the safety of their investments. Contact us today!

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