 TITLE: How Much Does Homeowners Insurance Cost? CONTENT: How to Save on Homeowners Insurance\n-----------------------------------\nConsumers do have some control over their homeowners insurance premium. Here are some potential money-saving strategies to consider:\n*   **Raise your deductible.** As previously mentioned, opting for a higher deductible is one way to reduce how much you'll pay for coverage. Just keep in mind that doing so means you'll have higher out-of-pocket costs should you need to file a claim, so it's a trade-off.\n*   **Shop around.** Another way to unlock potential savings is to compare quotes. Shopping around and gathering estimates from several different insurers gives you choices and allows you to see who has the best rates. One thing to be mindful of, however, is sacrificing quality for price. If disaster strikes, the last thing you want is to be underinsured, which could end up costing you more when all is said and done. The Consumer Financial Protection Bureau also recommends sharing quotes with your mortgage loan officer to make sure the coverage you're considering meets their lending requirements.\n*   **Turn to your existing insurers.** If you've been with the same auto insurance company for a number of years, they may offer you a discount for bundling your home coverage. The Insurance Information Institute reports that some companies may shave off 5% to 15% if you buy multiple policies. You may also be rewarded for your loyalty if you stay with the same insurer for the long haul. Look for other discounts too, such as those given to military service members or older Americans, for example, as a way to find additional savings.\n*   **Focus on improving your credit.** Remember, insurers in most states may check a version of your credit score when assessing your risk and determining your rate. Improving your credit score could translate to lower premiums, but its benefits can pay off in other ways as well, such as lower interest rates on loans and credit cards. Paying your bills on time, maintaining low balances on your revolving accounts, and disputing any inaccuracies on your credit report can go far in boosting your score. END