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.

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