The average American spends more than one-third of their take-home pay on housing. As such, it’s only reasonable to try to cut costs wherever possible. While mortgage interest rates may be out of your hands, home insurance premiums are not. Depending on the circumstances, you could save hundreds of dollars per year simply by employing some of the savvy strategies below. 

3 Ways to Save on Home Insurance Premiums 

1. Raise the Deductible 

Since policyholders are responsible for paying the deductible before coverage kicks in, a higher deductible will yield lower premiums. When it comes to home insurance, most providers offer deductibles as low as $500. If you have a sizable savings account though, consider increasing it to $1,000 or even $2,000 to save on your annual premium. 

2. Subtract the Cost of the Land

It’s reasonable to assume that you should purchase at least as much as you paid for the property in rebuilding costs. If you bought the property several years ago, you might even want to allot more to account for inflation. Keep in mind that the land underneath the structure is not vulnerable to covered hazards, though. In other words, rebuilding could cost considerably less than the property’s current appraised value. The less coverage you buy, the lower your premiums. 

3. Bundle All Your Policies

Insurers are happy to offer discounts to their loyal customers. By purchasing your home, auto, and any other policies from the same provider, you can save a lot. Just make sure to have your agent shop around first, and confirm that bundling the policies will actually cost less than buying them from two or more different insurers. 

For help finding affordable home insurance, turn to JMS Insurance Agency. Based in Stafford, TX, this independent firm is proud to serve clients throughout Montgomery, Harris, and Fort Bend counties. Their knowledgeable insurance agents work with the leading providers to help clients devise custom policies that include all the coverage they need. To request a free home insurance quote, reach out on their website or call (281) 494-1500.