How to Reduce the Cost of Homeowners Insurance

Not only is homeowners insurance necessary to protect your assets in unfortunate events, mortgage companies generally require it. As an additional expense to your mortgage, utilities and other household expenses, your goal as a home owner should be to keep the cost of homeowners insurance to a minimum.
Use these tips to for finding ways to reduce the cost of this necessary component of home ownership.
Choose Your Deductible Wisely
Generally speaking, the higher your deductible, the lower the cost of the policy. Keep in mind though, that in the event you do have a claim, that deductible will need to be paid in one lump sum. At that point in time, $250 or $500 sounds better than $1000!

Double (or Triple) Up on Insurance Coverage
Most insurance companies will provide you a discount if you bundle services like auto, life and homeowners insurance, or a combination of others.
Have the Right Safety Features
•    Smoke detectors
•    Fire extinguisher
•    Dead bolts
•    Burglar alarm
•    Sprinkler system
Find out from your insurance company what these items will ultimately save you on your premium, and weigh that against the cost of purchase and installation to ensure real savings.
Maintain Good Credit
Just as your credit score determines your mortgage rate, a good credit record will get you a better homeowners insurance rate.
Ask Questions
Always review your policy and ask questions about anything you’re unsure of. Multiple items you may not need could significantly impact your cost.
Tip: Decide who you want to work with before you worry about the type of homeowners insurance coverage and what it’s going to cost. A good relationship can make a difference in how happy you are with your policy.