Filing homeowners insurance claims

There are many components of an insurance policy that can make your rate rise, but filing several claims over a short period of time may be one of the most influential in terms of how much you pay each month on your premium. Over the past decade,home insurance prices have fluctuated, but to most homeowners, it would seem they have only gone up.

After a devastating winter, you might see your rate increase a few percentage points as companies prepare for heavy wind, rain and hail damage to properties across the country. Insurance rates can also rise based on where you live and the potential for home damage in your area.

A study from found that the average premium rate for homeowners insurance was $818.47 in March 2014, a slight increase from February's average of $806.33. In some states, homeowners insurance rates have jumped dramatically over the past month, while others have seen some decline. Idaho experienced the biggest price spike, with rates increasing 25.9 percent in March. Other states with rates rising more than 10 percent during the same month include New York, Connecticut, Arkansas and Tennessee.

What you can do to reduce your rate
While you may not be able to control outside influences and home insurance rates as a whole, there are a few things you can do to reduce your rate. Combining policies - auto insurance and homeowners insurance - with the same company into a bundle can usually save you a large percentage on your premium rates.

In addition, you could consider raising your deductible to keep your monthly payments low. One of the best solutions for finding the best homeowners insurance rate is to shop around and compare one insurance provider against another. Seek out discounts that you may qualify for, as well. It can be a good idea to shop around for a less expensive premium about once a year, before you renew your policy with your current insurance provider.

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