This year, I opened my renewal notice and almost spilled my coffee. My homeowners insurance went up by more than $1,000. Ouch.
If you’ve seen a similar increase, you know the feeling: frustration, disbelief, and the immediate urge to figure out how to bring that payment back down to something manageable. While I can’t make the market changes disappear, I can share a few practical ways I’m looking at to soften the financial blow.
1. Adjust how you pay
Right now, my home insurance premium is paid through escrow as part of my mortgage. That makes budgeting easy—but it also means my mortgage payment is about to jump by over $80 a month.
One option I’m considering is taking my insurance out of escrow and paying the premium up front, once a year. It’s a bigger chunk to write at one time, but it gives me more control over the timing (and some carriers offer a discount for paying in full).
2. Revisit your deductible
Another lever you can pull is your deductible—the amount you pay out of pocket before your insurance kicks in. If you raise your deductible from, say, $1,000 to $2,500, you could see noticeable savings on your premium.
The trade-off, of course, is that you’d have to pay more if you had a claim. For me, lowering the deductible isn’t appealing, but raising it slightly could make sense depending on the numbers. This is a place to really do the math: how much do you save versus how much extra risk you’re taking on?
3. Shop (carefully)
I’ll be honest: switching carriers is my least favorite option. Insurance is about relationships, and I value consistency in coverage and service. That said, shopping around is sometimes necessary. A good independent agent (like us) can compare multiple carriers and see if another company can give you better value without sacrificing protection.
It’s important to remember that eligibility requirements are changing too. If you have an older roof (10+ years), it may be harder to find a good fit for your home. Or if you have asbestos siding, your options are limited. Home characteristics play a huge role in which company carries your policy and how much you’ll pay. Unfortunately, these details matter a lot in this insurance market.
4. Look for other savings
Beyond those big levers, don’t forget the smaller ones:
- Bundle policies (home + auto, etc.)
- Ask about discounts (smart home devices, security systems, even updated plumbing/electrical)
- Keep your coverage current (you don’t want to be underinsured, but make sure you’re not paying for something outdated).
Final Thoughts
I wish I could say there’s a magic fix, but the reality is that rates are rising everywhere due to higher construction costs, weather events, and the broader insurance market. Still, you do have choices—and even small adjustments can add up.
If your bill just jumped like mine did, let’s talk through your options. Together, we can find a balance between protecting your home and protecting your wallet.