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. Spend some time shopping around. Check consumer guides, insurance agents, companies and online insurance quote services. Try some of the top name online quote providers, like the ones at http://www.HomeownersExclusive.com/homeinsurance.html. This will give you an idea of price ranges and tell you which companies have the lowest prices. But never consider price alone. The insurer you select should offer a fair price and deliver the quality service you would expect if you needed assistance in filing a claim. Also, ask them what they would do to lower your costs.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 don't subtract the value of the land when deciding how much homeowner's insurance to buy, you will pay more than you should. Don't wait till you have a loss to find out if you have the right type and amount of insurance.If you've kept your coverage with one company for several years, you may receive a special discount for being a long-term policyholder. Some insurers will reduce their premiums by 5 percent if you stay with them for three to five years and by 10 percent if you remain a policyholder for six years or more. But make certain to periodically compare this price with that of other policies.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 loss - your 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 at floodsmart.gov.If you are a renter, DO NOT assume your landlord carries insurance on your personal belongings. Purchase a special policy for renters Adam Henley. Visit Homeowners Insurance Tips for more ways to save.
Category : General Insurance
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