Here are the first five tips to get a discount on your homeowners policy...
1. Shop Around
It is important to not limit yourself when looking at homeowners insurance. Just because you have been with a certain carrier for an extended period of time doesn’t guarantee the lowest price. Incremental raises in premiums spread out over time, add up. You may not have even noticed until you start comparing rates.
2. Raise your deductible
Depending on the terms of your policy, a deductible is the amount that you would pay out of pocket before your carrier begins to pay out on a claim. You may be able to save as much as 20-30 % just by raising your deductible. Odds are, that living in FL means you have a totally separate hurricane deductible. Make sure that you review that separate deductible so there are no surprises should you ever need it.
3. Buy home/auto policies
Multiple policies could mean multiple discounts. Many carriers offer several lines of insurance, (homeowners, auto, liability) They may offer a discount for two or more lines. Make certain this combined price is lower than buying the different coverages from different companies.
4. Make your home disaster resistant
Get a home inspection for wind mitigation or find out from your insurance representative what you can do yourself to make your home more resistant to wind, storms and other natural disasters. A new roof or storm shutters might help. Though it may be expensive, it may be well worth it when a storm comes through. Depending on the age of the home, consider modernizing your heating, plumbing and electrical systems to reduce the risk of fire and water damage.
5. Improve home security
You can usually get discounts of at least 5 percent for a smoke detector, burglar alarm or dead-bolt locks. Some companies offer to cut your premium by as much as 15 or 20 percent if you install a sophisticated sprinkler system and a fire and burglar alarm that rings at the police, fire or other monitoring stations. These systems aren't cheap and not every system qualifies for a discount. Before you buy such a system, find out what kind your insurer recommends, how much the device would cost and how much you'd save on premiums.