Homeowners’ insurance does not have to break the bank. It is possible to find a good rate and still protect your largest and, arguably, most important investment. By following these seven steps you can lower your home insurance and get the best rate possible.

1. Shop and Compare

One of the most important things you can do is to  shop around and compare the rates of many different insurance companies. Some people will settle for the first rate they encounter or think the government offers the best insurance. Only after you do research should you choose the policy that is right for you. Companies like ours can do all of this work for you.

2. Raise Your Deductible

The chances of you actually having to file a claim are very low. By agreeing to pay more in the event of a very unlikely disaster, you can lower your yearly premium by up to 50%. The savings from your premiums will far outweigh any costs you incur when you have to file a claim.

3. Bundle Your Costs

By consolidating your insurance coverage to a single company you can receive discounts on all of your monthly or yearly premiums. That means if you purchase your auto, life, and home insurance from the same company, you can received discounts on all of them.

4. Upgrade

Upgrading the security system and adding newer burglar systems or dead bolts, can help to make your home more attractive to insurance companies as this lowers the risk of theft. Also, by adding the latest safety measures such as earthquake or flood protection, it is also possible to lower insurance costs. Ask your insurance agent what you can do to better outfit your home for safety and security.

5. Get an Appraisal for the Right Costs

Many people end up overpaying for home insurance because they insure at the costs they paid for the house. Rebuilding costs might actually be much lower as you already own the land your house is on; you shouldn’t have to pay twice for it. This means that is it important to get an accurate appraisal of your property and possessions and adjust your policy to only cover those things it will actually replace and repair.

6. Stay Loyal

Several insurance companies will grant discounts if you have been with the company for a long time. The longer you stay with them and the more loyalty you demonstrate, the lower your insurance payments can be. They keep your business, and you get a better deal.

7. Don’t Pay for Unnecessary Insurance

It’s important to only pay for what you actually need. Be careful of paying for protection that does not apply to your property. For instance, if you live in areas prone to tornadoes, don’t get stuck paying for earthquake protection. It’s an unnecessary cost. Know what your policy covers and don’t get trapped by hidden costs.

With a little research and knowledge, you can easily lower your home insurance costs. Be sure to review your policies yearly and stay aware of any changes to your home, your region, or your coverage as these can greatly affect what you’re paying.