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How do you reduce your home insurance premium?
I’ve been with the same home insurance company for the past five years. When I got my renewal notice last month, my insurance premium increased by $300. That seems crazy! How can I reduce my home insurance premium?
Emily Maracle · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
An increase in your home insurance premium can be a surprise! Thankfully, there are several ways to reduce your home insurance premium.
The easiest way to reduce your home insurance premium is by shopping around. Since you’ve been with the same company for five years, you may not be getting the best rate for the coverage you need. Companies change rates consistently, so it’s recommended to shop around at every renewal. While it seems strange, most home insurance companies don’t offer loyalty discounts.
If you’d like an easy way to find cheap home insurance quotes, try
Jerry
. A licensed broker that offers end-to-end support, the Jerry app gathers affordable quotes, helps you switch plans, and helps to cancel your old policy. Even better—Jerry will help you bundle your home and auto policies for maximum savings. Another way to save on your home insurance is to reach out to your current provider. You may be eligible for additional discounts or rates. A few easy discounts you could qualify for are:
- Bundling multiple policies
- Installing home security or a doorbell camera
- Ensure your smoke detectors and carbon monoxide alarms are up to date
- Make your home peril proof by installing additional safety features
Finally, you can also review your coverage, policy limits, and deductible. If you can afford it, raising your deductible will reduce your premium. Reducing or altering your coverage can also reduce your rate.
Good luck!
View full answer
- Gregory R.
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Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
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