Homeowners insurance protects you from having to pay the full cost of repairing your home or replacing your belongings in the event of a disaster. In addition to these tips that will help you save on any type of insurance policy, there are specific ways you can cut costs when it comes to your homeowners insurance. Follow these 5 tips to save money on your homeowner’s insurance premium.

1) Protect your home from damage. You may be able to save on your homeowners insurance by retrofitting your home to protect it from damage in the event of a natural disaster, such as a hurricane, fire, or earthquake. Talk with your insurance company about potential discounts for installing storm shutters, reinforcing your roof, or even updating your home to protect it from earthquake damage.

2) Invest in upgrades for your home. Be sure to tell your insurance company about any upgrades to your property. While some upgrades may increase your property values and insurance premiums, others can actually help you save money. For example, you can save up to 10 percent on your homeowners insurance by installing new wiring in your house.

3) Improve your home security system. Adding smoke detectors, deadbolt locks, and basic burglar alarms can easily save you up to 5 percent on your insurance premiums. Some insurance companies also provide as much as a 20 percent discount for more sophisticated security systems that contact the police during an emergency. These systems can be costly, however, so be sure to check with your insurance company about potential discounts before purchasing one.

4) Don’t insure the land under your home. The total value of your home and belongings affects how much you pay for your insurance premium. However, don’t include the value of the land under your house in these calculations. It is not protected under homeowner’s insurance policies and including its value in your estimate can easily raise your insurance premium.

5) Consider location when choosing your next home. The location of your home impacts how much you pay for your homeowners insurance. Even something as simple as being close to a fire hydrant can cut down the cost of your insurance premium! Also consider the natural disasters that are common in the region you a buying a house. For example, wooden frame houses may help save you save money on your homeowners insurance in earthquake prone regions because they can better withstand that type of damage.

If your homeowners insurance is giving you a hard time, speak with one of our claim advisors to see if we can help.

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Bankrate. “10 hidden home insurance credits.” http://www.bankrate.com/finance/insurance/10-hidden-home-insurance-credits-3.aspx

Insurance Information Institute. “Twelve Ways to Lower Your Homeowners Insurance Costs.” http://www.iii.org/article/twelve-ways-to-lower-your-homeowners-insurance-costs

Insurance Information Institute. “How to Save Money on Your Homeowners Insurance.” http://www.iii.org/article/how-to-save-money-on-your-homeowners-insurance

Insurance Information Institute. “What Is Covered by Standard Homeowners Insurance?” http://www.iii.org/article/what-covered-standard-homeowners-policy

Martin, Brett. Popular Mechanics. “7 Ways To Save Money on Your Home Insurance”. March 2016. http://www.popularmechanics.com/home/how-to/a20690/7-ways-to-save-money-on-your-home-insurance/