How to Save on Your Home Insurance Rate

Money is tight for many of us these days, so it’s smart to save wherever you can. If you own a house, then a home insurance policy is a necessary expense. Yet, you have several options for lowering your premiums and, ultimately, saving a considerable amount of money on your home insurance rate. Take a look at our tips.


Shop around.


Just like you compare prices on cars or furniture, you need to do the same for insurance. That’s hard to do with agencies that only write policies for one carrier. Fortunately, Hibbs Insurance is independent can examine policies from multiple companies to find the most affordable home insurance rate that will still cover your assets.


We also review your coverage annually to make sure your rate is still competitive. If it’s not, we’ll start looking at other companies to find a better price. Of course, you can call us throughout the year to re-examine both your policy and your rate. 


Raise your deductible.


If you have a healthy emergency budget, you can raise your deductible to lower your premiums. Of course, it’s never a good idea to increase your deductible above an amount that you can pay out of pocket.


Raise your credit score.


Believe it or not, a low credit score can result in a higher home insurance rate. That’s why you need to pay bills on time, eliminate your credit card balance, and do everything you can to maintain a good score.




Many carriers will offer a discount if you bundle your home insurance with other policies, such as auto, boat, and life. The degree of that discount varies, so ask about it when you get quotes.


Make home improvements.  


Protect your family and lower your insurance premiums by making your home more secure. Some carriers will offer breaks on rates if you install storm shutters, add impact-resistant roofing, or upgrade your plumbing and electrical wiring. You might also earn discounts by making your house more energy-efficient.


Think twice about adding on.


Some renovations—like a roof replacement—can lower your premium. However, adding onto your house probably isn’t one of them. Building a new room will typically increase your monthly home insurance rate because it will raise rebuild costs. Check with your Hibbs agent to see how a construction project will affect the price of your insurance.