Home insurance seems to get costlier every year, with basic premiums continuing to rise as more homes are exposed to added risks attributed to weather, accidents, vandalism, and outright theft. This leaves homeowners in a difficult situation, but there are things that can be done to help ease rising costs. First, examine your current policy and talk to your agent/ broker about your coverage. You might, for example, agree to increase your deductible to decrease premiums. Meanwhile, you may be eligible for discounts, based on client profiles such as bundled policies (e.g. auto & home), claims history, and payment punctuality.

Other discounts may be available based on steps taken to protect your home from potential damage, such as installing a backflow valve or sump pump. Or, you may qualify for lower insurance rates if you have recently improved your home’s structural integrity, such as its foundation or roof. Your policy premiums might also benefit from other investments in your home’s infrastructure, like upgrading your heating, wiring or plumbing, or installing a centralized fire and security system. Depending on how you qualify, these improvements could contribute to lower insurance premiums.