Homeowners insurance keeps getting more expensive — premiums increased 13% on average in 2024, with some states seeing rate changes of over 20%, according to S&P Global Market Intelligence. The national average cost of home insurance is $2,181 per year for a policy with a $300,000 dwelling limit, which works out to be around $189 per month, Bankrate reports.
Considering the high costs of everything from groceries to car insurance, you're likely looking for easy ways to save on your homeowner's insurance policy without sacrificing coverage. One way to do so is by raising your deductible.
