Question:

How can we save money on insurance beside increasing hazard insurance (homeowners insurance) deductible?

Answer:

Hazard insurance (homeowners insurance) deductible is what you pay towards some loss before the insurance company interferes and begins to pay. Hazard insurance deductibles will start at $250. The higher the deductible, the more you save on hazard insurance. At $500 you can save up to 12% on the homeowners' insurance, at $1000 deductible you save up to 24%, at $5,000 you can save around 35%, and so forth. Some companies may offer you hazard insurance deductible up to $10,000, other mortgage companies will limit your deductible to $1,000.

How to Save Money on Homeowners' Insurance

If you are non-smoker, you may be offered discounts on hazard insurance by some insurers.

Your business association or company may be using a group insurance package with some insurance company. Perhaps it is a good idea to check if they will give a group discount on homeowners' insurance to you and your fellow colleagues.

If you are a senior of 55 and retired, some insurance companies may give you 10% discount.

You can certainly get at least 5% off hazard insurance premiums if you install smoke detectors and alarm, and up to 20% if you install a sprinkler system as well as alarm reporting at monitoring facility. Before you buy such a system, check with your insurer what systems they recommend and how much you will save on insurance as those surveillance systems are far from cheap.

Also, if you stay with one insuring company for a longer time, they may begin treating you with special attention as a loyal customer and offer you 5 to 8 percent discount.

Recommended helpful present and future homeowners links:
Why: Refinance to a fixed rate loan while mortgage rates are still low.
Link:
Why: Because FHA loans are insured by the US Federal Government they have very competitive interest rates and are easier to qualify.
Link:
Why: Know and protect your credit report and score.
Link: See All 3 National Credit Scores & 3 Reports Instantly, Online & Free
Why: Find your next home and save money.
Link: Search thousands of foreclosures. Free 7-day trial.
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Common misspellings: mortage and morgage