When you\u2019re shopping for a new home, your priorities are likely to be the location and features of a home more than the cost of insuring it. But if you\u2019re budget-conscious, it\u2019s smart to consider some of the factors that influence how much you\u2019ll pay for homeowner\u2019s insurance. If you already own your home, you can still find ways to save on your insurance costs.<\/p>\n
1. Don\u2019t wait to shop for insurance.<\/p>\n
Once you have a home under contract and a settlement date, contact a few insurance companies right away to get a quote for homeowner\u2019s insurance. Don\u2019t wait until the week of closing.<\/p>\n
2. Check for discounts for bundling your insurance.<\/p>\n
"Discounts are available for customers who bundle more than one Allstate policy, such as auto, homeowners and life insurance," says Orlando Mercado, director of the homeowner\u2019s product management line for Allstate.<\/p>\n
3. Consider insurance costs when choosing a home location.<\/p>\n
Homes located in flood zones or in hurricane-prone areas carry higher costs. Homes located closer to fire stations generally have lower insurance premiums, says Mercado.<\/p>\n
4. Consider insurance costs when comparing home features.<\/p>\n
"Some features that may result in higher insurance premiums or even being rejected for insurance include older roofs, pools and trampolines," says Mercado. "Many companies provide better rates and\/or discounts for homes with newer roofs."<\/p>\n