Skip to Content
Two children playing in sprinkler in front of their home.

Homeowner's insurance and living on a budget

When considering a homeowner's insurance policy, look for ways to slim down your budget without losing coverage.

Your home is often one of your greatest assets. For this reason, it's important to be sure that you have the right homeowner's insurance to protect the place that you call home. You want to ensure you have sufficient coverage,  while at the same time, keeping costs down and finding the best ways to save money.

Your homeowner's insurance premiums are based on many factors, some of which you have some degree of control over. So if you're looking for ways to trim your insurance budget without sacrificing coverage, here are some things to consider.

Raise your deductible

Increasing your deductible can have an immediate effect on your premiums. Yes, you'll have to pay more out-of-pocket in the event of a claim, the amount you'll save annually in premiums could very well make up the difference.

Don't use your homeowner's policy as a maintenance policy

Your homeowner's policy is meant to protect your home and personal property against things such as a natural disaster, fire, and other substantial losses. It's not meant to help you pay for home repairs or minor damages. Small, frequently made claims may raise your premiums at renewal time, or even result in a non-renewal of your policy.

Consider certain safeguards

Many insurance companies provide a variety of discounts on home insurance policies if you take additional measures to protect your home and personal property. Things such as security systems, deadbolt locks, smoke and fire alarms, can all help trim your premiums while increasing your overall safety.

Bundle it

You can immediately experience some savings by combining many of your other insurance coverages (such as your auto and life insurance) with the same company that you have your homeowner's insurance with. Not only does this help save you money, but adds to the convenience of having all of your insurance in one place. Ask your agent about available policies and all discounts that you may be eligible for.



Arrows linking indicating relationship

Related Articles

Couple shopping for a new refrigerator

Creating a budget for home repairs

Learn more
A couple discussing a real estate property with an agent prior to purchasing the property.

Real estate investment: Considerations before you purchase property

Learn more
African American woman with glasses looks up and smiles as she types on her laptop.

Using a mortgage loan application checklist

Learn more

All Learning Center articles are general summaries that can be used when considering your financial future at various life stages. The information presented is for educational purposes and is meant to supplement other information specific to your situation. It is not intended as investment advice and does not necessarily represent the opinion of Protective Life or its subsidiaries.

Learning Center articles may describe services and financial products not offered by Protective Life or its subsidiaries. Descriptions of financial products contained in Learning Center articles are not intended to represent those offered by Protective Life or its subsidiaries.

Neither Protective Life nor its representatives offer legal or tax advice. We encourage you to consult with your financial adviser and legal or tax adviser regarding your individual situations before making investment, social security, retirement planning, and tax-related decisions. For information about Protective Life and its products and services, visit

Companies and organizations linked from Learning Center articles have no affiliation with Protective Life or its subsidiaries.