You can pare your homeowner’s insurance premiums yet still buy adequate protection.
Raise the deductible. Most homeowner’s insurance policies have deductibles of $250 or $500 but you can request a $1,000 deductible. The higher the deductible, the lower your premiums will be. A higher deductible may mean you’ll have to cover more incidents yourself but you still will have protection against catastrophes.
File fewer claims. Even with a $250 or $500 deductible, it does not make sense to file a claim for, say, $600 or $700. To an insurance company’s claims department, “frequency” means high-risk. You’re more apt to have a policy canceled after filing three claims for a few hundred dollars apiece than for filing one claim for hundreds of thousands of dollars if your home is a total loss. Thus, you should do without filing claims unless it’s for something really serious.
Combine coverage. By buying homeowner’s and auto insurance through the same agent, you can qualify for significant discounts.