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<p class="has-black-color has-text-color has-large-font-size">Taking advantage of lesser-known homeowners insurance discounts and other creative approaches can help you save.</p>
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<p class="has-black-color has-text-color has-large-font-size">Homeowners insurance rarely gets much attention, but it could be quietly costing you more money than it should.</p>
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<p class="has-black-color has-text-color has-large-font-size">The good news is that insurers provide a variety of discounts and incentives that can help you lower your homeowners insurance premium.</p>
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<p class="has-black-color has-text-color has-large-font-size">Here are nine ways to save.</p>
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<h2 class="has-black-color has-text-color has-extra-large-font-size">1. Raise your deductible</h2>
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<p class="has-black-color has-text-color has-large-font-size">A quick way to reduce your premium is to raise your homeowners insurance deductible, the amount you pay if you have to make a claim. If you had, say, a $1,000 deductible, you could save an average of 12% a year by increasing it to $2,500, according to NerdWallet's rate analysis.</p>
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<p class="has-black-color has-text-color has-large-font-size">Raising your deductible puts money in your pocket every month that otherwise would have gone to your insurer. Just be sure you have enough saved to cover a bigger out-of-pocket expense if you need to make a claim.</p>
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<h2 class="has-black-color has-text-color has-extra-large-font-size">2. Make your home more secure</h2>
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<p class="has-black-color has-text-color has-large-font-size">Even the basics can save you money when it comes to home security.</p>
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<p class="has-black-color has-text-color has-large-font-size">Having a smoke detector, burglar alarm or deadbolt locks on your home can earn you a 5% discount, says Mark Friedlander, spokesperson for the Insurance Information Institute. Adding a comprehensive sprinkler system along with an actively monitored fire and burglar alarm could save you as much as 15% to 20%, he says.</p>
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<h2 class="has-black-color has-text-color has-extra-large-font-size">3. Skip small claims</h2>
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<p class="has-black-color has-text-color has-large-font-size">It may be tempting to file a claim with your insurer even when something relatively minor happens, but you may be better off in the long run if you pay out of pocket for these smaller expenses. That’s because some insurers offer discounts if you remain claim-free for a certain period of time, usually a few years.</p>
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<p class="has-black-color has-text-color has-large-font-size">How much can filing a claim affect your rates? Submitting a claim for wind damage raises your annual cost of insurance by about 9%, on average, according to a recent NerdWallet analysis. A water claim costs you even more, raising your annual rate by about 19%, on average. If your claim is relatively minor, you could end up paying more in rate increases than the insurer pays out.</p>
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<h2 class="has-black-color has-text-color has-extra-large-font-size">4. Ask about lesser-known discounts</h2>
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<p class="has-black-color has-text-color has-large-font-size">Unless you check, you may never know what other savings you might be eligible for. Some insurers offer additional homeowners insurance discounts if you:</p>
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<ul class="has-black-color has-text-color has-large-font-size"><li>Don’t have any smokers living in the house.</li><li>Recently bought your home.</li><li>Pay your premium via automatic bank payments.</li><li>Choose paperless billing.</li><li>Work in a specific career, such as teaching, engineering or firefighting.</li></ul>
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<h2 class="has-black-color has-text-color has-extra-large-font-size">5. Account for home improvements</h2>
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<p class="has-black-color has-text-color has-large-font-size">If you've improved your home, you may have made yourself eligible for homeowners insurance discounts without even realizing it. Adding features such as storm shutters and impact-resistant roofing — which make your house tougher to damage — could result in insurance savings. You might also earn a discount by upgrading outdated plumbing and electrical systems.</p>
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<p class="has-black-color has-text-color has-large-font-size">“You can often request a new inspection of your home to evaluate these improvements to maximize your potential discounts,” says Jessica Hanna, spokesperson for the American Property Casualty Insurance Association.</p>
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<h2 class="has-black-color has-text-color has-extra-large-font-size">6. Bundle your auto and home insurance</h2>
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<p class="has-black-color has-text-color has-large-font-size">Bundling auto and home insurance with the same company typically saves you 5% to 15% on your homeowners premium, according to data from the Insurance Information Institute. Although it could vary depending on your company, many insurers provide discounts if you buy more than one type of policy from them.</p>
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<h2 class="has-black-color has-text-color has-extra-large-font-size">7. Build your credit score</h2>
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<p class="has-black-color has-text-color has-large-font-size">It may surprise you to learn that your credit score can have a substantial impact on your home insurance premium. That’s because in most states, companies can use a credit-based insurance score to determine your rates. If your insurer thinks your credit score is too low — such as a FICO score under 630 — you may pay higher rates.</p>
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<p class="has-black-color has-text-color has-large-font-size">If you find that your credit score is low, read your credit report closely to identify any errors. You can elevate your score by taking steps like paying bills on time and reducing credit card balances. Learn more about how to build credit.</p>
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<h2 class="has-black-color has-text-color has-extra-large-font-size">8. Get rid of high-risk stuff</h2>
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<p class="has-black-color has-text-color has-large-font-size">Even though it may be fun, having something deemed an “attractive nuisance” by your insurer — think trampolines, swimming pools or playground equipment — can add to your homeowners insurance premium.</p>
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<p class="has-black-color has-text-color has-large-font-size">An attractive nuisance is a feature on your property that children could be tempted to play on. If they get injured while doing so, you could be held legally responsible. Because insurers consider this a liability risk, getting rid of those items could save you money on homeowners insurance.</p>
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<p>To read the full article,&nbsp;<a href="https://www.nerdwallet.com/article/insurance/save-on-homeowners-insurance?trk_channel=web&amp;trk_copy=9%20Ways%20to%20Lower%20Homeowners%20Insurance%20Rates&amp;trk_element=hyperlink&amp;trk_elementPosition=1&amp;trk_location=PostList&amp;trk_subLocation=image-list">click here.</a></p>
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