7 Efficient Ways to Lower Your Home Insurance Costs

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4. Don’t be afraid of the small stuff

Many homeowners don’t file claims for insignificant repairs because they are afraid it will maximize their premium over time. However, Consumer Reports found that 57% of homeowners who filed a claim less than $5,000 saw no premium increase. Those that did see an increase report that it was less than $200 per year.

Of course, an increase in the cost of premiums after a claim varies depending on the company and the cost of the claim. This is why it’s important to talk to each agent when you’re getting a quote to find out how much your premium may go up – and for how long – if you file a claim that’s higher than your deductible.

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