Homeowners insurance is an essential risk management tool that helps you protect your property and belongings. It covers losses due to fire, storms, falling objects, and even theft or vandalism. Unfortunately, many people forego this coverage because they feel the rates are too high. To help you better afford to protect yourself, below are some effective ways to reduce your home insurance premiums.

How Can You Lower Your Homeowners Insurance Rate?

1. Increase Your Deductible

The deductible is the amount you must pay toward a claim before your insurer contributes. The larger the deductible, the lower your insurance company's risk, and therefore the lower your rates. Ask an agent how much you can save each month if you raise the deductible amount.

2. Ask About Discounts

Many insurers offer discounts for various reasons. For instance, most offer bundle discounts (or multi-line discounts) for policyholders who buy multiple policies. For example, if you purchase home and auto insurance from the same company, then you will usually pay less than if you were to buy them separately. Other insurers offer security device discounts to homeowners who install a monitored burglar alarm or a fire alarm system, which reduces the risk of a fire or theft claim.

3. Improve Your Credit

Insurers use numerous factors to calculate your premium rates. One of these is your credit report. People with good credit tend to pay less than those with a checkered credit history. Always pay your bills on time, get current on any delinquent accounts, and notify any creditor before missing a payment if you know you are going to pay the bill late. This should slowly improve your credit score and lower your homeowners insurance rates.

To find out how much you can lower your homeowners insurance rates, contact Barnes & Howell Insurance in Gainesville, GA. They have served Hall County and Northeast Georgia since 1995. They also specialize in auto, motorcycle, life, and renters insurance. Learn more about the agency on their website or call (770) 718-0202 to request an insurance quote.