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Will you be able to pay the deductible? You might have a deductible for basic coverage and a separate deductible for windstorm or earthquake damage. Using the same insurance company can often save you hundreds of dollars each year. Check with your insurance provider if bundling your auto coverage with your home or renters' insurance policy can yield additional savings. Paying your bills on time each month and not using too much debt will net you a higher credit score. Most insurance carriers use credit as a portion of the rate-setting process in states where it is permitted. Maintaining a strong credit score is a crucial factor, said Ryan Papy, president of Keyes Insurance in Miami. Install a security system, replace outdated plumbing and electrical systems, or install a new roof or energy efficient windows. Speak with your insurer to confirm the upgrades make financial sense in comparison to the discount you'll be receiving, Miller said. Insurance discounts are available to homeowners with a smart home security system and also for flood protection devices, said Chris Basso, spokesman for Alarm. Insurance agencies work with a range of carriers and can "shop around" for homeowners to find a variety of insurance options, Miller said. There are often discounts and credits available within certain coverages and an agent could help you take advantage of these savings. In Florida, homeowners must obtain windstorm insurance year round if they want the additional coverage, Papy said. The deductible for your windstorm insurance is separate from your homeowners' coverage. Homeowners with mitigation features to protect the property such as shutters or single wrap roof attachments receive discounts. Flood coverage starts 30 days after the premium is paid. Don't wait until the middle of the hurricane season to buy coverage. Hurricane season for the Atlantic basin runs from June 1 to November If there's any possibility of flooding, don't forgo flood insurance, Lewis said. Some insurers will provide discounts for senior citizens while others will offer them for homes that are located in gated communities, Papy said. As everyone is self-isolating and working from home, now is a good time to take inventory of your possessions. Document your items, especially any recent purchases such as electronic equipment by taking photos of them and the receipts. Store them online in case you need to refer to them in the future. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. I agree to TheMaven's Terms and Policy. Combine Your Coverage Using the same insurance company can often save you hundreds of dollars each year. Maintain a Good Credit Score Paying your bills on time each month and not using too much debt will net you a higher credit score. Reduce Your Exposure to Perils by Upgrading Your Home Install a security system, replace outdated plumbing and electrical systems, or install a new roof or energy efficient windows. Speak With an Independent Insurance Agent Insurance agencies work with a range of carriers and can "shop around" for homeowners to find a variety of insurance options, Miller said. Buy Separate Flood, Windstorm and Earthquake Coverage In Florida, homeowners must obtain windstorm insurance year round if they want the additional coverage, Papy said. Ask for Discounts Some insurers will provide discounts for senior citizens while others will offer them for homes that are located in gated communities, Papy said. Take Inventory of Your Personal Items As everyone is self-isolating and working from home, now is a good time to take inventory of your possessions. By Scott Rutt. By Rob Daniel. Corey Goldman. By Tony Owusu. By Rob Lenihan. By Martin Baccardax. By Joseph Woelfel.