| 1. |
Raise your deductible. If you can afford to pay more toward a loss that
occurs, your premiums will be lower.
|
| 2. |
Buy your homeowners and auto policies from the same company and you’ll usually
qualify for a discount. But make sure that the savings really yields the lowest price.
|
| 3. |
Make your home less susceptible to damage. Keep roofs and drains in good repair.
Retrofit your house to protect against natural disasters common to your area.
|
| 4. |
Keep your home safer. Install smoke detectors, burglar alarms, and dead-bolt locks. All
of these will usually qualify for a discount.
|
| 5. |
Be sure you insure your house for the correct amount. Remember, you’re covering
replacement cost, not market value.
|
| 6. |
Ask about other discounts. For example, retirees who are home more than working
people may qualify for a discount on theft insurance.
|
| 7. |
Stay with the same insurer. Especially in today’s tight insurance market, your current
vendor is more likely to give you a good price.
|
| 8. |
See if you belong to any groups—associations, alumni groups—that offer lower
insurance rates.
|
| 9. |
Review your policy limits and the value of your home and possessions annually. Some
items depreciate and may not need as much coverage.
|
| 10. |
See if there’s a government-backed insurance plan. In some high-risk areas, such as
coasts, federal or state government may back plans to lower rates. Ask your agent. |
