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Five ways to Save on Homeowner's Insurance
May 22, 2013

While the economy is struggling across the nation, many consumers are looking for ways to cut costs.One significant area that can be reviewed is your home insurance policy.

By making a few changes and tweaks here and there you could save yourself hundreds of dollars while improving your home value. According to a 2011 survey conducted by Trusted Choice, over 34% of the respondents were unaware of homeowners insurance discounts.

The following list is dependent upon the insurance provider:

1. Home security - If you live in a gated community you may be entitled to a discount, as gated communities have a lower rate of home invasion crimes. Having a security system in place or sometimes even just a deadbolt lock can knock off a few bucks!

2. Fire Safety - Installing smoke detectors is not just important for the safety of your family, but it can also lead to a discount on your homeowners insurance policy. Sprinkler systems and heat detectors are another possible discount on your insurance policy.

3. Disaster Resistance - Another important safety feature for your home that could bring you an insurance discount. Storm shutters, shatter-proof glass and roof reinforcement can often lead to a mitigation discount. In addition to these items, modernizing your plumbing, electrical and HVAC systems can reduce the risk of fire and water damage and makes underwriters smile.

4. Policyholder Discounts - If you haven't filed a insurance claim on your homeowners insurance in the last 10 years, ask about a discount. This can often lead to a 20% deduction; again this is dependent upon your insurance provider. Some providers even often discounts if you have been a long-time customer.

5. Other Discounts - Not all discount levels are the same in all of the states. Prices can vary from provider to provider, for example, while some companies offer senior discounts, some do not. It is always a good idea to ask your agent or representative what types of discounts they offer.

Compare your rates each year, just to make sure that you are getting the best deal out there. It's a competitive market and prices can change just as easily as our lives do.