6 Ways to Save on Homeowners Insurance and Lower Your Premium
How to Save on Homeowners Insurance?
Homeowners insurance is an essential safeguard, protecting your property and belongings from unexpected events. However, the premiums can add up over time, making it crucial to find ways to save. Fortunately, there are several strategies you can employ to lower your homeowners insurance premiums without sacrificing the quality of your coverage. Whether you’re a new homeowner looking to renew your policy, these six tips will help you reduce costs while ensuring your home remains well-protected.
6 Ways to Save on Homeowners Insurance
1. Enhance Home Security
Installing a robust home security system is one of the most effective ways to lower your insurance premiums. Insurers reward homeowners who take proactive steps to reduce risk.
Why it Works: A security system deters burglars and can help prevent or minimize damage from break-ins. This lower risk translates to lower premiums.
How Much You Can Save: Insurance discounts for security systems vary, but you can often save 5-20% on your premium. Monitored systems (those connected to a central monitoring station) typically qualify for larger discounts than unmonitored systems. DIY systems, like those from Kangaroo, still qualify for discounts, often in the 5-10% range.
2. Increase Your Deductible
Increasing your deductible – the amount you pay out-of-pocket before your insurance coverage kicks in – can significantly reduce your premium. However, it's a balancing act.
Why it Works: A higher deductible means you're taking on more of the financial risk, so the insurance company charges you less.
How Much You Can Save: Raising your deductible from $500 to $1,000 could save you 10-25% on your premium. Going from $1,000 to $2,500 could save you even more.
Action Step: Assess your financial situation. Do you have an emergency fund that could cover a higher deductible in case of a claim? If so, increasing your deductible is a smart way to save. If not, stick with a lower deductible you can comfortably afford.
3. Bundle Home and Auto Insurance
Bundling, or combining your home and auto insurance policies with the same company, is a classic money-saving strategy.
Why it Works: Insurance companies offer discounts to customers who purchase multiple policies. It's a way to reward loyalty and simplify your insurance management.
How Much You Can Save: Bundling discounts typically range from 5-25%, and sometimes even higher.
Top Companies for Bundling:
State Farm: Known for excellent customer service and substantial bundling discounts. Get a personalized quote on their website today!
Geico: Offers competitive rates and user-friendly online tools. Visit Geico online to learn more and get a quote.
Allstate: Provides customizable coverage options and discounts for bundling. Contact an Allstate agent to discuss your needs.
Progressive: Known for its innovative pricing and flexible coverage options, including Snapshot program. Learn more about Progressive's unique offerings on their website.
Action Step: Get quotes from several insurance companies that offer both home and auto insurance. Compare the bundled rates to see how much you could save.
4. Compare Home Insurance Quotes
Never assume your current insurance company is offering the best rate. Regularly comparing quotes from multiple insurers is essential.
Why it Works: Insurance rates vary significantly between companies, even for the same coverage. Shopping around ensures you're not overpaying.
How Often to Compare: Aim to compare quotes at least once a year, or whenever your policy is up for renewal. Also, compare quotes after any major life event (e.g., moving, getting married, buying a new car).
How to Compare Effectively:
Use Online Comparison Tools: Websites like The Zebra, Insure.com, and QuoteWizard allow you to compare quotes from multiple insurers quickly.
Gather Your Information: Have your current policy details, home information, and personal information ready.
Compare Apples to Apples: Make sure you're comparing quotes for the same coverage levels and deductibles.
Consider Customer Service: Don't just focus on price. Look at customer reviews and ratings to gauge the insurer's reputation for claims handling and customer service.
Action Step: Dedicate an hour to comparing quotes online. You could save hundreds of dollars!
5. Maintain a Good Credit Score
Your credit score plays a surprisingly significant role in determining your homeowners insurance rates in most states.
Why it Works: Insurers use credit-based insurance scores to assess risk. Studies have shown a correlation between credit history and the likelihood of filing a claim.
How to Improve Your Credit Score:
Pay bills on time, every time.
Keep credit card balances low.
Avoid opening too many new accounts at once.
Regularly check your credit report for errors and dispute any inaccuracies.
Action Step: Get a free copy of your credit report from AnnualCreditReport.com and review it carefully. Take steps to improve your score if needed.
6. Ask About Discounts
Insurance companies offer a wide range of discounts, but they don't always advertise them. It's up to you to ask!
Comprehensive List of Potential Discounts:
Claims-Free Discount: For homeowners with no recent claims history.
Protective Device Discounts: For smoke detectors, fire extinguishers, deadbolt locks, burglar alarms, sprinkler systems.
New Home Buyer Discount: For those purchasing a newly built home.
Loyalty Discount: For staying with the same insurer for multiple years.
Age of Home Discount: Newer homes often qualify for lower rates.
Retiree Discount: Some insurers offer discounts to retirees.
Gated Community Discount: Living in a gated community can lower your risk.
Impact-Resistant Roofing Discount: For homes with roofs designed to withstand hail and wind damage.
Full Payment Discount: Paying your annual premium in full, rather than monthly, can often save you money.
Paperless Billing Discount: Opting for electronic documents can save a small amount.
Multi-Policy Discount: (See #3 - Bundling)
Action Step: Call your insurance agent or company and ask specifically about every discount on this list. You might be surprised at what you're eligible for.
Homeowners Insurance Explained
Homeowners insurance is a must-have to protect your home and belongings from unexpected events like fire, theft, and natural disasters. It provides financial security by covering the cost to repair or rebuild your home (dwelling coverage) and replace your possessions (personal property coverage). Plus, it protects you from liability if someone gets injured on your property. (Uses: homeowners insurance, dwelling coverage, personal property coverage, liability coverage)
What does homeowners insurance cover?
Dwelling coverage: Pays for damage to the structure of your home.
Personal property coverage: Covers your belongings if they are damaged or stolen.
Liability protection: Protects you from lawsuits if someone is injured on your property.
Medical payments: Covers medical expenses for minor injuries to guests on your property. (Uses: dwelling coverage, personal property coverage, liability coverage, medical payments)
How Home Insurance Rates Are Determined
Home insurance rates depend on:
Your home’s value and rebuild costs.
Location and associated risks (e.g., flood zones).
Claims history and deductible amount.
Bundling policies (e.g., auto and home insurance).
Tips to Save on Condo Insurance
If you live in a condo, saving on insurance is just as important as it is for homeowners. Here are a few strategies to reduce costs:
Install Security Features: Adding devices like motion sensors and doorbell cameras can lower your risk and premiums.
Bundle Policies: Save on condo insurance by bundling with auto or umbrella insurance policies.
Review Your HOA Policy: Understand what your homeowners association (HOA) policy covers to avoid redundant coverage.
Maximize Savings with Kangaroo and Dory Concierge
At Dory Insurance Concierge Service, we prioritize maximizing your home insurance benefits and savings.
Kangaroo Home Security will contact your insurance carrier provider directly to verify eligibility for home insurance discounts.
By installing Kangaroo’s advanced security systems, you can potentially lower your homeowners insurance premiums.
This proactive approach ensures that your home’s security upgrades are recognized, offering both peace of mind and financial savings.
Securing your new home with the right insurance coverage doesn't have to be daunting or expensive. By exploring the array of insurance discounts available from bundling home and auto policies to installing advanced security systems like Kangaroo, you can protect your investment while saving on premiums.
Customer Feedback: Savings Achieved Through Dory via Kangaroo
"I didn’t even know this was possible until I contacted kangaroo and I was offered! They contacted my insurance company and was able to save me 10% overall." - Spree, Kangaroo Concierge Customer
"It was seamless, I dont even remember if I took any action to get this discount, but it was good to get!!' - Mital, Kangaroo Concierge Customer
"Wow! I just answered a few questions and now I’m saving an additional $64! Simple, Fast & easy!" - Jeff G., Kangaroo Concierge Customer
"Answered a few question got a refund check for $34!!" - Beth, Kangaroo Concierge Customer
Famous Kangaroo Devices for Homeowners
A versatile indoor security camera that offers high-definition video recording and real-time alerts, helping homeowners monitor their property remotely.
This smart doorbell features a built-in camera that allows homeowners to see and communicate with visitors at their front door via a mobile app.
A sensor that monitors the opening and closing of doors and windows, providing alerts if a door or window is unexpectedly opened.
An audible alarm that sounds when a security breach is detected, helps to deter intruders and alert homeowners to potential threats.
Best Homeowners Insurance Companies 2025
Finding the best homeowners insurance company for your needs requires comparing factors like coverage options, customer satisfaction, and rates. Here are some of the top-rated homeowners insurance companies in 2025:
State Farm Homeowners Insurance
State Farm is a leading homeowners insurance company known for its extensive network of local agents who provide personalized service. They offer comprehensive homeowners insurance policies that typically include dwelling coverage, personal property protection, liability coverage, and medical payments. State Farm also offers various discounts, including those for bundling home and auto insurance, helping you save on your premiums. Get a personalized quote on their website today! (Uses: homeowners insurance, dwelling coverage, personal property coverage, liability coverage, medical payments, home and auto insurance, discounts, premiums)
Geico offers competitive rates for homeowners insurance and has a reputation for user-friendly online tools and an efficient claims process. Their insurance policies are designed to be flexible, providing options to lower deductibles and access various discounts. Geico's coverage options can be tailored to include dwelling protection and liability coverage. Visit Geico online to learn more and get a quote. (Uses: homeowners insurance, deductibles, discounts, dwelling coverage, liability coverage)
Allstate provides a broad range of homeowners insurance policies with customizable coverage options, including dwelling coverage and medical payments. Their insurance agents work closely with policyholders to tailor policies to their needs, offering discounts for bundling home and auto insurance. Contact an Allstate agent to discuss your needs and find the right coverage for you. (Uses: homeowners insurance, dwelling coverage, medical payments, discounts, home and auto insurance)
Progressive Homeowners Insurance
Progressive is known for its innovative pricing and flexible coverage options for homeowners insurance. Their Snapshot program rewards safe driving behavior, and they provide opportunities for discounts on premiums when combining home and auto insurance. Progressive's policies are designed to offer comprehensive protection, including dwelling coverage and liability coverage. Learn more about Progressive's unique offerings on their website. (Uses: homeowners insurance, discounts, premiums, home and auto insurance, dwelling coverage, liability coverage)
Q&A: Homeowners Insurance
Your Questions Answered!
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Installing Kangaroo home security can potentially lower your homeowners insurance premium. Many home insurance companies offer discounts for security systems that reduce the risk of damage or theft. By improving your home’s security with Kangaroo devices, you may qualify for reduced home insurance rates, making it easier to find the cheapest homeowners insurance.
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Dory Insurance Concierge helps policyholders manage both home and auto insurance by providing personalized support from an insurance agent. They assist in finding the best coverage options, comparing home insurance quotes, and securing discounts. Dory can also help you navigate different insurers and insurance policies to ensure comprehensive coverage.
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Insurers determine the deductible based on the amount policyholders are willing to pay out-of-pocket before coverage kicks in. A higher deductible usually results in a lower premium, while a lower deductible may increase the premium. Your deductible choice affects how much you pay in case of a claim and can influence your overall home insurance costs.
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A standard homeowners insurance policy typically includes dwelling coverage, which protects the structure of your home, and personal property coverage for your belongings. It also includes liability coverage to protect against legal expenses if someone is injured on your property, and medical payments coverage for minor injuries to guests. Some policies may also offer coverage for rebuilding after a significant loss.
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Yes, Dory Insurance Concierge can assist in finding discounts on your home insurance policy. They work with various home insurance companies to identify opportunities for savings, such as bundling home and auto insurance or installing security systems like Kangaroo home security, which can lower your premium.
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Older homes can affect homeowners insurance quotes and coverage due to factors like outdated wiring, roofing, and plumbing. Insurance companies may charge higher premiums or require additional coverage to account for the increased risk associated with maintaining and insuring an older home. Ensuring your home is well-maintained and updated can help in managing insurance costs.
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If you need to file a claim for damage to your roof, first document the damage with photos and notes. Contact your insurance agent to report the claim and provide them with the necessary documentation. Your insurer will assess the damage and determine the amount covered under your homeowners insurance policy, including any applicable deductibles and coverage limits.
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To ensure you have the right coverage for personal property and liability, review your homeowners insurance policy and discuss your needs with an insurance agent. Make sure your policy covers the value of your personal belongings and provides adequate liability coverage. Adjustments can be made based on your specific needs, such as increasing coverage limits or adding endorsements for valuable items.
