If you own a home or are currently in the market for one, homeowners insurance is a reality for you. It would be hard to find a lender that will lend you money without requiring you to have homeowners insurance. If you don’t need a loan and are simply buying your home with a lot of cash, it’s still a good idea to have homeowners insurance to protect such a large investment. Homeowners insurance may be a necessity, but paying a fortune doesn’t have to be. This article will give you some tips and techniques you can use to make sure you don’t overpay.

One simple thing you could do to save money on homeowners insurance is to simply switch companies. If your company isn’t giving you a good rate and you find another with a better rate for the same amount of coverage, switch companies and save money.

Another way to save on the monthly cost of homeowners insurance is to increase your deductibles. If your current deductible is only $500, you could increase your deductible to $1,000 or even $2,000 or more and your monthly premiums will drop significantly.

There are a number of possible discounts that you may be eligible for. Many companies will offer a discount for non-smokers. A large percentage of home fires are caused by cigarettes, so if you don’t smoke, the chances of your house burning down are lower, and therefore you shouldn’t have to pay as much for insurance. Having a burglar alarm can also make you eligible for a homeowners insurance discount. A home with a burglar alarm is less likely to be broken into, therefore the insurance company is less likely to have to pay for stolen or damaged personal property. There are many other possible discounts that may be available that you don’t even know about, so another thing you can do is simply ask about discounts. Call your insurance company and ask about any discounts they might offer you.

Another way to save money on homeowners insurance is to get more than one type of insurance from the same company. For example, if you use the same company for your home insurance and auto insurance, you may be eligible for a discount on both.

I hope these tips have helped you. There are many ways to save a substantial amount of money on your insurance costs. By doing your homework and educating yourself on some of the different techniques to reduce insurance costs, you can have all the coverage you need and save a lot of money.