6 ways to help you save money on your homeowners insurance

Some of those factors, like the age of your home are out of your control, but there are others you can control to help lower your costs.

Below are some tips to help you save:

1. Bundle insurance policies

2. The deductible you choose can affect your policy

You can typically select the deductible for your property coverage in your homeowners policy. For example, you could choose a $1,000 deductible that would apply to your dwelling coverage, other structures coverage and your personal property coverage.

If you choose a higher deductible, the annual premium for your insurance policy will likely be lower. The downside? If you have to make a claim for repairs to your home, you’ll be required to shell out more money before your insurance helps cover the cost of repairs. On the other hand, choosing a low deductible could increase your premium, but you will pay a smaller amount when you file a claim.

3. Consider what claims you’re filing

4. Reduce your risk

Some insurance companies reduce your premiums if you take steps to reduce your risk, such as installing an alarm system, deadbolt locks or other devices that help protect against burglaries. Updating your older home with modern electrical, heating and plumbing systems, and a new roof can also help. Before investing in such upgrades, check with insurance companies to see which discounts they offer.

5. Compare prices

6. Research other discounts

You might qualify for reduced rates through membership organizations, professional or business associations, alumni groups, your employer or other affiliations. Some insurance companies offer discounts for retirees, and loyalty discounts for sticking with the same insurer.