Cut Your Bills Today With Home Homeowners Insurance Tips

Increase Your Deductible

Raising your deductible—the amount you pay out of pocket before your insurance kicks in—can lower your premium substantially. While this means you'll pay more in the event of a claim, it also reduces your monthly or annual insurance costs. For instance, increasing your deductible from $500 to $1,000 could result in a 25% reduction in your premium².