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: Condominium Insurance: Are You Insured Adequately?; Insurance for condos is different from homeowners insurance for a single family home, and usually requires more coverage; Hurricanes - Get Ready with Emergency Supplies; What emergency supplies you will need for a hurricane emergency.; What Happens If I Dont Pay My HOA Dues?; Your HOA board has a duty to collect monthly association dues, and will take necessary steps to recover any missed payments.; Drive Green - Buy An Efficient Vehicle; The difference between a car that gets 20 MPG and one that gets 30 MPG amounts to $1,020 per year; More...

Related Articles