If you own a home, it is smart to carry homeowner's insurance on your home. It will help provide you with financial assistance if anything ever happens to your house. Homeowner's insurance is a necessary expense but can also be an expensive one. Here are a few smart ways to save money on your policy.  

Always Get Quotes from Multiple Insurance Companies

One of the most important things you can do is to get quotes from multiple insurance companies. There are tools you can use online so that you can easily submit the same information about your home to multiple companies all at once and get quotes from each company. Be sure to select the option to get quotes from local and national insurance carriers. 

The truth is each insurance company uses a slightly different formula to figure out what to charge people. That means that just because your neighbor has a great premium rate with one insurance company doesn't mean you will be offered the same rate.  

Shopping around is the only real way to know what rate various insurance companies will offer you. This allows you to make a smart purchasing decision based on real information about which carrier will offer you a great deal. 

Increase Your Deductible

Next, you should investigate increasing your deductible. Most insurance companies will assume you want to go with the lowest deductible and will provide a quote with the lowest deductible. You will quickly find out, though, that going with the lowest deductible may save you some money in the event of an emergency, but it will cost you the most over the long-term. 

That is why you should go for a higher deductible. Going for a higher deductible can dramatically reduce your premium. When you raise your deductible, make sure you have that much money cash in your account. You should only raise your deductible if you can afford to pay it should you need to use it.  

Improve the Durability of Your Home

When you make home improvements, make improvements that will improve the overall durability of your home. Invest in things that will help protect your home from damage, such as a front door with a steel core, or impact-resistant windows, or earthquake retrofitting. Base your improvements on the possible threats your home will face based on your location.  

When it comes to homeowner's insurance, always shop around, raise your deductible to lower your premium, and increase the durability of your home. These three smart tasks should help you save money on your homeowner's insurance.