3 Ways to Save on Home Insurance

Photo by Any Lane from Pexels

Wondering how to save money on home insurance? Here are a few of the best ways to save without spending tons of time or energy. 

Save Money on Home Insurance by Shopping Around

The first and most important step is to shop around. This is something we do every day, right? We compare prices of products at the grocery store. We bounce back and forth between Walmart.com or Amazon.com to see who has the best deal on something. We go to multiple car dealerships (or their websites) to see who is willing to give us the best price. 

The same goes for home insurance. Every insurance company will offer different rates and terms, so it’s worth shopping around to see what you can get. Just make sure you compare apples to apples. It is difficult to compare premiums on policies from two different companies if the policies are very different in terms of coverage. 

If you’re having trouble picking which companies to go with, you can try a quick search on Google. You can also see if your bank offers insurance or check out Costco insurance options if you are a member. 

Save Money by Bundling Insurance

Do you own a car? Most Americans do, assuming you aren’t in a major city where public transportation is all you need. 

Assuming you do own a car, car insurance is something you’re already paying. Everyone’s policy and premiums are different, but the point is you are probably paying insurance to protect both yourself and your property. 

One way to save money on home insurance is to bundle it with car insurance. Insurance companies generally offer nice discounts when you do this, and the savings can really add up over time. 

For example, for simplicity sake let’s say by not bundling your insurance, your home insurance is $1,000 a year and your car insurance is $1,000 a year. If you choose to hold both policies with the same company, they may be able to knock 16% off your total. 

Savings of 16% off a total of $2,000 is $320 in savings per year. That’s not too shabby. Plus, you’re essentially making 16% on your money which may be more than you expect from the stock market!

Save Money by Increasing Your Deductible

A third way to save money on your home insurance premiums is to increase your deductible. 

This is a tricky one because it means you’re essentially taking on more risk. If something happens to the house and you have a major repair, the insurance company won’t pay a dime until you’ve paid the deductible. The higher your deductible, the less the insurance company will end up paying. 

But that may be a risk you’re willing to take. After all, you can invest the savings into something like stocks or bonds that will grow over time. Then it’s available anytime you need it, which wouldn’t be the case if you had handed that money over to the insurance company in premiums. 


Saving money on your home insurance is great – but first, you need to get into that dream home! Give us a call at (562) 924-7884 and we’ll help make that happen.