Before you call your insurance company or start comparing policies, have your current declarations page in front of you.You don't need to understand every line. Start by finding these key items:Your PremiumWhat is your annual premium?How are you paying it—monthly, quarterly, or annually?Are there installment fees or other charges?Your DeductiblesWhat is your standard deductible?Do you have a separate hurricane/wind deductible?Is the deductible a fixed dollar amount or a percentage?Your Major Coverage LimitsLook for the amounts shown for:DwellingOther structuresPersonal propertyLoss of usePersonal liabilityMedical paymentsYour Endorsements & Additional CoverageLook for any additional coverages or endorsements attached to your policy. Don't assume they're necessary—or unnecessary. You want to know what you're paying for before deciding whether to keep, change, or remove anything.Why this mattersWhen you're comparing insurance, don't compare premiums alone.A policy that costs less may also have a higher deductible, different coverage limits, or fewer protections than your current policy.The goal isn't simply to find the cheapest insurance. It's to get the protection you need at the best price.Tip: Don't have your declarations page? Ask your insurance company or agent for a current copy before you start shopping. It gives you a much better basis for comparing policies.

Your homeowners insurance premium can be affected by more than just the value of your home. Before you call, look at the factors that may be affecting what you're paying.Deductible A higher deductible can often lower your premium. Ask what your premium would be with a higher deductible—but make sure you could comfortably afford that deductible if you had a claim.Wind Mitigation Florida homeowners may qualify for discounts based on features that help protect the home from wind and hurricane damage. Ask whether you have a current wind mitigation inspection and whether you're receiving all applicable discounts.Roof Your roof's age, condition, material, and construction can affect both your premium and your ability to obtain coverage. If you've replaced or significantly improved your roof, make sure your insurance company has the current information.Home Improvements Updates to your roof, electrical, plumbing, HVAC, windows, doors, or other major components may affect your insurance. Make sure your insurer knows about significant improvements.Security & Safety Features Security systems, monitored alarms, fire protection, smoke detectors, and other safety features may qualify for discounts with some insurers.Claims History Your claims history can affect what you pay and, in some circumstances, your ability to obtain coverage. Before filing a claim for a relatively small loss, consider asking how a claim could affect your future insurance costs.Bundling Combining your home and auto insurance with the same company may qualify you for a discount. But don't assume bundling is automatically cheaper—compare the total premium and coverage.Payment Options Ask whether paying your premium in full or choosing a different payment schedule changes the total cost. Some payment plans may include additional fees.The question to ask:"What can I change or qualify for that could lower my premium without leaving me with coverage I don't need or a deductible I can't comfortably afford?"That question gets the conversation focused on both price and protection, rather than simply asking for the cheapest policy.

When you call your insurance company or agent, don't just ask, “Can you get me a lower rate?” Give them specific questions so you can compare your options intelligently.Ask About DiscountsWhat discounts am I currently receiving?Are there any additional discounts I may qualify for?Are my home improvements, security features, or wind mitigation credits reflected on my policy?Ask About Your DeductibleHow much would my premium change if I increased my deductible?What deductibles are available to me?Do I have separate deductibles for hurricane or wind damage?Ask About Your CoverageAre my current coverage limits appropriate for my home and situation?Are there any coverage limits or exclusions I should be aware of?What optional coverages or endorsements are currently included?Ask Before Removing AnythingIf you're considering dropping an optional coverage, don't simply ask what you'll save.Ask:“How much would I save, and exactly what protection would I be giving up?”That gives you the information you need to decide whether the savings are worth the reduced protection.One More Important Question“If you were reviewing this policy for yourself, is there anything you would change?”You may get a very different conversation when you ask that question than when you simply ask for the cheapest premium.

Not every coverage or endorsement on a homeowners policy is necessarily something you need. But don't remove coverage simply because it appears optional. First understand what it protects and what you'd be giving up.Before removing or changing an optional coverage, ask:What does this coverage actually protect me from?How much does it cost me each year?What is the deductible, limit, or other restriction?How likely am I to need this protection?Could I comfortably pay for the loss myself if I didn't have this coverage?How much would I actually save by removing it?Coverage worth asking aboutDepending on your home and circumstances, your policy may include optional coverages or endorsements such as:Water backupEquipment breakdownService line coverageScheduled personal propertyIdentity theft protectionOther specialty endorsementsSome can provide valuable protection. Others may not make sense for everyone.The goal isn't to remove as much coverage as possible. It's to avoid paying for protection you don't need while making sure you keep the protection you do.A good question to ask:“If I remove this coverage, how much will I save, and what exactly would I be responsible for paying if something happened?”Ad

A lower premium isn't always a better deal. Before reducing coverage or increasing your deductible, make sure you understand what you're giving up.Be Careful About Reducing Liability CoverageLiability coverage can help protect you if you're legally responsible for someone else's injury or property damage. Don't reduce your liability limits simply because doing so lowers your premium.Ask:“How much would I save by lowering my liability limits, and what protection would I be giving up?”Don't Automatically Reduce Dwelling CoverageYour dwelling coverage is intended to help cover the cost of rebuilding your home, subject to your policy's terms and limits. Your home's market value isn't necessarily the same as its replacement cost.Reducing this coverage just to save money could leave you inadequately insured.Think About the Worst-Case ScenarioBefore choosing a higher deductible or removing coverage, ask yourself:“If I had a major loss tomorrow, could I comfortably afford to pay this deductible or cover the loss myself?”Saving money on your premium isn't helpful if the resulting deductible or coverage gap creates a financial problem when you need your insurance.The GoalDon't buy the cheapest insurance. Buy the protection you need at the best price you can find.A good insurance review should look for unnecessary costs and potential savings without sacrificing important protection.Ad