4 ways veterans can save money on homeowners insurance

by Alison Zorovich 02/17/2023

The U.S. Department of Veterans Affairs offers multiple financing options for veterans who want to buy a home. However, the VA does not offer homeowners insurance. During your home buying process, you'll also need to get homeowners insurance to protect your property. Here are some ways veterans can save on homeowners insurance:

Shop around

There are countless insurance providers for a good homeowners policy. It might seem overwhelming to choose, but the more research you do, the more you'll save. Make a list of your top choices and compare their rates and reviews. It's also worth asking other veterans, such as loved one or those you've served with, for recommendations of providers they're happy with.

Bundle policies

It's common for insurance providers to offer discounts for buying more than one policy. For example, if you already have car insurance, the same company might be able to offer you a homeowners policy at a discounted premium. Some providers may even discount both policies when you combine them. Investigate what providers offer for multiple policies before you buy.

Improve security

There are simple safety and security upgrades you can make to your home to potentially lower your homeowners insurance premium. Some examples of upgrades include adding dead bolt locks, security cameras, floodlights and carbon monoxide detectors. Providers may also offer discounts for homes with smart security systems to keep you and your property safe.

Opt for a higher deductible

If you don't mind a higher deductible on your policy, you may be able to get lower monthly rates on homeowners insurance. Most homeowners insurance policies have a deductible amount of $200 to $300. However, raising the deductible to anywhere between $500 and $1,000 can potentially save 20% or more. Each provider has different options for deductibles--some policies with no deductible at all--but it's worth investigating the benefits of choosing a higher deductible amount when shopping for a policy.

About the Author

Alison Zorovich

Hi, I'm Alison Zorovich I am your premier real estate expert in Shrewsbury and I am here to provide you with all the resources and information you need to buy or sell real estate. I work with buyers and sellers in Shrewsbury, Northborough, Grafton, Holden, Millbury and I have had extensive training in the latest real estate strategies. I am confident that I can offer you knowledge and tools most other agents can’t.