Final answer:
Increasing the total coverage of Robert's home on his policy will not help lower his homeowner's insurance premiums. Increasing deductibles, removing replacement costs, or reducing riders can lead to cost savings on premiums.
Step-by-step explanation:
The action that will not help Robert lower his homeowner's insurance is d. Increase the total coverage of his home on his policy. This is because increasing coverage typically results in higher premiums. On the other hand, a. Increasing the deductible on his policy means that Robert would agree to pay a larger share of the costs before the insurance starts to pay, which usually leads to reduced premiums. b. Removing replacement cost from his policy means he's giving up a certain level of coverage, which should lower his premiums. Similarly, c. Reducing the number of riders means getting rid of additional coverage options that he may have added to his policy, which also typically results in lower premiums.
Having a higher deductible or paying a copayment or coinsurance are ways to share the cost of potential losses with the insurance company, which can reduce premiums. However, increasing the maximum coverage only raises the insurance company's potential liability, thereby increasing the cost of insurance for the policyholder. It is essential to balance the desire for comprehensive coverage with the cost of premiums.