2. Go with higher deductibles
A deductible is how much money a homeowner pays out of pocket when he or she files a claim with the insurance company. Once you pay your deductible, the insurance company takes over and pays the rest of the money. So, if you go with a higher deductible, you will lower your monthly premium.
Unfortunately, this comes with a twist. Higher deductibles can save you money in the short-term, but they can be a costly mistake if you don’t have at least the amount of your deductible in your savings.