How to Lower Your Homeowners Insurance

Feb 9, 2023 2 min read

Is your homeowners insurance costing you more money than it should?

Insurance providers offer a range of discounts and incentives that can help you lower your premium. Here are eight simple ways to save.

1. Consider a Security Alarm

When you work to make your home safe from break-ins, you could earn a homeowners insurance discount on your total premium. Adding security alarms makes your home safer and reduces theft claims, which saves money. We pass the savings on to you. Talk to your agent about which security devices and services qualify for this discount. 

2. New Roof Discount

Have you recently installed a new roof on your home? Your roof is your home’s first line of defense against the elements, so a new roof is a good investment. Based on the roofing you choose, you could not only shield your home from severe weather, a new roof may also earn you a discount on your homeowners insurance.

3. Insure High Value Items Separately

Your homeowners insurance is designed to protect everything under your roof, but some of your possessions are simply worth more money. Collectibles, antiques and grandma’s jewelry may be driving up the costs of your premiums. If you have high-dollar items in your home that you need to insure, consider personal property insurance, which could save you money in the long run.

4. Increase Your Credit Score

In most states, insurers can use a credit-based insurance score to determine your rates. If your score is on the lower side, you may get stuck paying higher rates. Talk to your agent to see if a higher score could help you lower your premium. You can work to raise your score by paying bills on time, reducing credit card balances and avoiding new debt.

5. Raise Your Deductible

Your deductible is the amount you agree to pay “out of pocket” in the event of a claim. If you have money to set aside and can pay a higher amount if something happens, you may be able to save with lower rates – especially in the years that you anticipate fewer claims. 

6. Bundle and Save

When you have insurance through Farm Bureau, we can combine all your home and auto accounts into one policy, known as a Member’s Choice policy. How does this save you money? Consider this: if there is a storm that drops hail on your roof, damages your car, and wind damages your boat, you will only pay one deductible. We call it the One Deductible Advantage, and it is designed to prevent you from paying multiple deductibles for the same event. 

7. Nix the Nuisances

In the insurance world, things like trampolines, swimming pools or playground equipment are known as “attractive nuisances” — and they can add to your homeowners insurance premium.

An attractive nuisance is a feature on your property that children could be tempted to play on, running the risk of an injury. Because insurers consider this a liability risk, getting rid of those items could save you money on homeowners insurance.

8. Talk to Your Agent

Get to know your agent — they are your insurance advocate and may be the key to finding additional discounts for your home, like a new home discount for newly constructed homes, or continued in-force credit for long time client/members. Your agent can help you find all the discounts you qualify for when you do an annual SuperCheck®.

No one likes to think about the “what ifs” in life, but being prepared and protected with homeowners insurance can help get you back on track quickly if your home is damaged by fire, wind or other covered losses. We’re committed to keeping your coverage affordable so that your premiums don’t break the bank. Talk to your Farm Bureau agent about discounts and ways to lower your homeowners insurance premiums.

Want to learn more?

Contact a local FBFS agent or advisor for answers personalized to you.