Four ways to save money on home insurance as rates rise

Homeowners have had to shell out more money for mortgage payments, routine maintenance and heating costs this year as accelerating inflation and rising interest rates weighed on monthly budgets. Another more important bill to add to this list: home insurance.

Home insurance premium rates rose 9.3% from Jan. 1, 2021 to Nov. 25 on average nationwide, according to data from S&P Global Market Intelligence. The Insurance Information Institute, an industry trade group, also known as Triple-I, said premiums are expected to rise further in 2023.