Real Estate Community Forum

I have a home and would like to purchase home owners insurance, but I have no clue what I can do to get a cheaper rate. I have been told to shop around and compare prices. I have also considered raising the cost of my deductible to $1,000 dollars, which I can save as much as 25 percent on my premiums, but I know there must be other factors that contribute to a cheaper rate. Does anyone have any suggestions on what I can do? Thanks

Some of the things you may want to consider to a get cheaper home owners insurance is to have you home and auto insurance policy with the same insurer. Some insurance companies will reduce your premium by 5 percent to 15 percent.

You can also get a discount for having home security devices in your home. These discounts can be up to 5 percent for a smoke detector, burglar alarm or dead-bolt locks. In fact, some companies may cut your premiums as much as 15 or 20 percent if you install special devices such as a sophisticated sprinkler system, or a fire and burglar alarm that notifies the police or fire department.

Also check to see if your employer has a group insurance program. Sometimes your company offers homeowners insurance at a better rate than you can find elsewhere. In fact, some professional, alumni and business groups may offer an insurance package at a lower price too.