Homeowners Insurance

You may be able to save hundreds of dollars a year on homeowners insurance by shopping around for insurance. You can also save money with these tips.

Consider a higher deductible. Increasing your deductible by just a few hundred dollars can make a big difference your premium.
Ask your insurance agent about discounts. You may be able get a lower premium if your home has safety features such as dead-bolt locks, smoke detectors, an alarm system, storm shutters or fire retardant roofing material. Persons over 55 years of age or long-term customers may also be offered discounts.
Insure your house NOT the land under it. After a disaster, the land is still there. If you dont subtract the value of the land when deciding how much homeowners insurance to buy, you will pay more than you should.

Dont wait till you have a loss to find out if you have the right type and amount of insurance.

Make certain you purchase enough coverage to replace what is insured. Replacement coverage gives you the money to rebuild your home and replace its contents. An Actual Cash Value policy is cheaper but pays only what your property is worth at the time of lossyour cost minus depreciation for age and wear.
Ask about special coverage you might need. You may have to pay extra for computers, cameras, jewelry, art, antiques, musical instruments, stamp collections, etc.
Remember that flood and earthquake damage are not covered by a standard homeowners policy. The cost of a separate earthquake policy will depend on the likelihood of earthquakes in your area. Homeowners who live in areas prone to flooding should take advantage of the National Flood Insurance Program. Call 1-888-CALLFLOOD or visit http://www.floodsmart.gov/floodsmart/pages/index.jsp.
If you are a renter, DO NOT assume your landlord carries insurance on your personal belongings. Purchase a special policy for renters.

Source: USGSA.gov

Related Articles: How To Save On Closing Costs; Many are shocked when they learn how much they owe to close on their mortgage. But there are ways to save before you sign on th; What are the FHA Loan Requirements?; The FHA makes it easy to secure a home loan. The FHA Loan Requirements are described in detail in this article.; Homeowners Insurance; Tips on how to shop for homeowners insurance and save money-also avice on flood insurance; Asbestos; An information guide on asbestos and asbestos abatement. Also discusses vermiculite and how it relates to asbestos.; More...

Most Popular: Medigap Supplemental Insurance Explained; Medigap is a supplemental health insurance policy sold by private insurance companies to fill gaps in Medicare coverage.; Estate Planning: Should You Create A Trust?; Trusts help define how and when you want your assets distributed after your death and can often reduce your estate taxes and the; The Developer Controlled Community; The various aspects and differences between managing a developer-controlled community versus a homeowner-controlled community; How To File A Homeowners insurance Claim; Six steps to help ease the process of filing a homeowners insurance claim.; More...

Related Articles