If you got a notice that your property insurance was going up, you may be freaking out on how it’s going to affect your budget. You must have home insurance in Salt Lake City for your home, but you don’t want to pay increasingly higher rates. Here are five tips to help you lower the cost of your property insurance.

Increase Your Deductible

You can save money by raising your deductible. Because you take on more of the risk if you file a claim, insurance premiums usually go down. Just make sure you can afford the deductible if you should need to file. Remember that a storm could hit, a fire could occur or other catastrophes that would mean you have to pay up even before your insurance policy takes effect.

Insure the Value of the Home, Not the Property

If you paid $200,000 for your property, you may think you need to insure it for that amount. However, the land your home is on isn’t likely to be at risk for a disaster. You should focus on the cost to rebuild the house. If it would cost $100,000 to have a new home the same size as your current property, that is the amount needed for coverage.

Bundle Policies

If you currently have home insurance with one carrier and car insurance with another provider, talk to them both to find out how much it would cost to combine the two. Whichever one gives you the best deal is the one you should go with. Just make sure you have the same or better coverage if you switch one of your policies.

Secure Your Home

If you have a home security system in place, you may save money on your property insurance. The cost of the system would quickly be made up by the savings on your policy. If this is something you’ve been thinking about doing anyway, go ahead and get it installed.

Ask About Discounts

Look for discounts that your insurance provider offers for homeowners’ insurance. Even if you can’t save money right now, you should find out about what discounts your insurance provider offers. Some of them you may automatically qualify for, while others may require you to take action. For instance, you may qualify for a discount if you remain with the same insurer for several years. Removing a fireplace you don’t use or sealing it off could reduce your premiums because the home won’t be as big of a fire hazard.

It’s not always easy to find the lowest rates on home insurance, but they are out there. You just have to know where to look and what steps to take to get premiums you can afford. If you aren’t sure what to do, contact your insurance agent who can help you find ways to save money. If they don’t offer the assistance you need, look for another insurance agency that will provide the help to get your business.