Q:  How can I save money on my Home Insurance?

With the increasing costs of home insurance, there are several ways to save, here are some examples: 

Make Your Home Safer - You may be eligible for a discount if you have a burglar and fire alarms systems and/or sprinkler systems. Monitored systems will earn a bigger discount than unmonitored.
Construction Material - When you buy a home, look for fire-resistant construction, such as brick, masonry or rock. You may pay a lower premium for hail-resistant roofs, such as those made of concrete tile, while wood roofs may bring a surcharge. Check the location of the nearest fire department, and avoid buying in flood prone areas. Non-Smoker Discountsd systems.  Also, If your home is smoke detectors and deadbolt locks, you could save money. Those items help make your home safer and more secure. 

Avoid claim small losses

No one likes to pay for damage that they are covered for in the event of a loss.  But consider that if you report a small claim for $1,000 and then another small claim for $1,000 a year later, there is a chance your insurance carrier will not renew the policy.  If this happens you may pay an inflated premium of up to 250% with a company willing to insure your home.  This may be the case for the next 5 years.  If you have a premium of $1,000 that goes to $2,500, over the next 5 years that amounts to an additional $7,500 penalty in consideration for the $2,000 you recovered from the claim.

Reduce Potential Hazards

Removing trees from striking distance of the residence can also help save cash.

Raise Your Deductible

A deductible is the amount you pay before the insurance starts to pay for your loss. Since the purpose of insurance is to pay for the losses you cannot afford, raise your deductible to a limit that you could handle in case of a loss.

New Home or Recent Renovation

If your home is less than 10 years old, you may be eligible for a new home discount.

If you have an in-ground pool or a trampoline, you might pay higher premiums.
You can also expect to pay more if you are located in a higher risk area, such as a coastline.
Your insurance company will also want to know if you plan to use the home for any business purposes, of if you plan to rent all or part of the house, both of which can increase liability.
When you buy an home insurance policy, you are buying a package of individual coverages. Each coverage protects you against different types of losses. Once you understand the various coverages, you can decide which ones to include in your personal insurance package. You can also determine the limits of coverage you will need.

Long Island House Insurance
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Long Island House Insurance - How Do I Save Money