10 Potential Ways To Reduce Your Homeowner's Insurance Premium

Did you know there are things you can do within your home to keep your insurance premiums affordable and discounted? Homeowners insurance is available to keep homeowners financially safe when things go wrong—like if your home floods or catches fire and everything is destroyed.

If you have homeowner’s insurance, you can avoid the financial depletion it leaves you with. Most of the time, if you have a home loan, it is required that you pay for homeowner’s insurance. While it can be pricey, here are some things you can do to assure that you pay the lowest amount of homeowner’s insurance.

  1. Make sure carbon dioxide and smoke detectors are installed and work properly.
  2. Add deadbolts, if there aren’t any to your front and back doors as a proactive action against theft.
  3. Adding storm shutters on your home can save you up to 30% if you live in a hurricane prone area.
  4. Installing fire resistant siding and retrofitted roofs can make your home less of a risk in the eyes of your insurance provider.
  5. If you own a dog, especially one with a reputation as “dangerous” or “aggressive” dog breed, this can raise your premiums. Doberman Pinschers, Pit Bulls, Rottweilers and Wolf-mix breeds are typically on this list. Speak with your carrier about ways to lower your premium if you own one of these breeds—like signing a waiver or showing proof of training.
  6. Repair cracked staircases and floors, or any unsafe areas in your house, to prevent these safety issues increasing your chance of filing a claim and thus from raising your rates.
  7. Owning a generator could also lower your premium by up to 2%. Generators keep a home inhabited when a bad storm hits and regular power is lost, deterring theft (and therefore deterring insurance claims for replacement of stolen items).
  8. Installing a home-security system can also make your home less of a risk for theft.
  9. Update your home’s electrical, heating and air conditioning, and plumbing to the most up-to-date standards.
  10. Avoid certain home upgrades or outdoor toys—like a trampoline. Installing a tree house or pool could also be viewed as a source of potential liability to insurance companies.

By being proactive in your home, you have the option of saving yourself money from paying outrageous insurance premiums. By assuring that your home is safe, prepared and you as the owner are taking all precautions against having to file a claim you can appear to be a low risk to insurance companies. Low risk usually coincides with lower monthly premiums!


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