Homeowners insurance is something every homeowner needs to have. Banks will not give you financing without it and without homeowners insurance you open yourself to enormous risk and the potential for complete loss of the investment in that you have made in your home. That being said homeowners insurance is something that, while a necessity, is often annoying to pay for. Usually it is combined into your mortgage payment so it is not something that you immediately notice, but it is a real cost. It is worth having though when a windstorm blows a giant tree into your garage.

There are many easy ways to save on homeowners insurance though. The first and maybe most important way to save is to shop for your insurance and compare between the myriad of different providers that offer insurance in your area. You are probably aware of many of these providers because of their advertising on TV and on the radio. Check around and you will be surprised on how much the quotes you receive will vary. Another way to save is to adjust the amount of coverage that you want; there are many different options to choose from and many different premium choices, just like car insurance. Another way to save is to work with your agent to make simple improvements around the house, which may qualify you for a discount. These improvements could be as simple as installing a carbon monoxide detector or as comprehensive as installing gutters to save your foundations. The simplest way to secure a discount, however, is to raise your deductible. This will lower your monthly costs, but increase your costs in case of a claim.

After you have chosen a homeowner’s insurance policy from a provider and have been on that policy for a while you can save by continuing to shop for cheaper insurance and then calling your current provider to see if they can work with you to remain competitive. If the homeowners insurance you are looking for is for a home you have previously lived in but have turned into a rental property you can change your policy to a business owner policy and this can also equal savings. Basically renters are expected to get their own coverage to cover their belongings which had previously been covered under your prior insurance.