Some tips on reducing your homeowners rates

General hints

1. Ask for quotes from at least three insurance companies. 
2. Raise your deductible. Your deductible is the portion of each loss you pay before your insurance company will begin paying for your covered loss - often an amount such as $250. The higher your deductible, the lower your insurance premiums. In determining a deductible, you must decide how much you can afford to pay up front in the event of an unexpected loss.
3. Reduce the risk of theft. Consider installing a burglar alarm or at least dead bolt locks on all outside doors. Communities with Neighborhood Watch programs often have lower insurance rates. Check with your local police department for information on how you can get involved.
4. Ask about discounts for safety features such as an automatic sprinkler system, central burglar or fire alarm, dead bolt locks, smoke detectors or fire extinguishers.
5. Ask about discounts for buying other policies - auto and boat, for example - with the same company.
6. Ask what other discounts are available. For example, if you are at least 55 years old and retired, you may qualify for lower rates.
7. Look into discounts available if you stay with the same insurer for several years.
8. Insure your house, not the land. It is your home, not your land, that is at risk from the perils covered in your policy. So when deciding how much insurance to buy, don't figure in the value of the land.
9. Ask if you are eligible for group coverage, which is sometimes available through alumni associations, employers and business associations.