The average cost of homeowners insurance in Plymouth, MN, is $1563. Homeowners insurance is one of the most important things you can have to protect your Plymouth, MN, home. It helps to cover the cost of repairs or replacement if your home is damaged or destroyed by a covered event, such as a fire. It also provides liability coverage if someone is injured on your property. Many types of homeowners insurance policies are available, so it's important to work with an experienced agent to find the right one for your needs. The coverage you need will depend on the value of your home and your personal belongings. Before buying a policy, shop around and compare rates from different insurers. Once you have a policy in place, review it regularly and update it as needed to keep it current. Here are some suggestions to help lower Plymouth, Minnesota homeowner's insurance.

Choose a Higher Deductible

The deductible is the amount you would pay out-of-pocket if you had to file a claim. By choosing a higher deductible, you can reduce the cost of your homeowners insurance. While a higher deductible means you would have to pay more out-of-pocket if you had to file a claim, your monthly premium will also be lower. If you are considering a higher deductible, set aside enough money in case you have to file a claim. In Plymouth, Minnesota, homeowners with deductibles of 500 and 1500 pay $1544 and $1315 in premiums, respectively. However, households with deductibles of 2000 and 2500 pay $1193 and $1122, respectively. So, in Plymouth, Minnesota, the higher the deductible, the lower the premium.

Install Security Features

As a homeowner in Plymouth, MN, you can reduce the cost of your homeowner's insurance by installing security features such as fire alarms, smoke detectors, deadbolts and sprinkler systems. Many insurance companies offer discounts for homes with security features, so it pays to invest in them. For instance, homeowners in Plymouth, Minnesota, with installed sprinkler and fire alarm systems, pay $1469 and $1469 for their home insurance.

To find out how much homes in Plymouth, Minnesota paid for security feature installation, see the chart below.

Maintain a Zero Claims History

Maintaining a zero claims history is one of the best ways to reduce the cost of homeowners insurance in Plymouth, MN. Homeowners who have never filed a claim on their policy pay an average of 15% less for their insurance than those who have. Insurance companies view these policyholders as lower risk and reward them with lower rates. Consider paying out of pocket for small claims like electrical damage, plumbing issues, or minor wall cracks rather than submitting a claim and running the chance of a rise in your Plymouth, Minnesota, home insurance rates. For example, homeowners in Plymouth, Minnesota, who have never filed a claim, must pay a premium of $1360. In contrast, in Plymouth, Minnesota, homeowners with one or two claims must pay $1672 and $1750 for homeowners insurance.