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.

Related Articles

Source: USGSA.gov
Search All Articles
Related Articles
How To Save On Closing Costs
HomecashsmMany 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?
FhaThe FHA makes it easy to secure a home loan. The FHA Loan Requirements are described in detail in this article.
Homeowners Insurance
HomeinstTips on how to shop for homeowners insurance and save money-also avice on flood insurance
Asbestos
Asbestosdanger2_thAn information guide on asbestos and asbestos abatement. Also discusses vermiculite and how it relates to asbestos.

More...
Most Popular
Loan Modification: Is it Right For You?
ScalehousesmWhat is loan modification? How is it different than refinancing a mortgage and what does it take to qualify.
The Importance of Reserve Planning and Funding
Dollar_thWhy Reserve Funding is crucial
Purchasing Individual Health Insurance: What you need to know
HealthcostssmLearn more to find a plan that fits your health-care needs
Iowa - The Corn State
Corn1thumbNamed for the Iowa River, which was named for the Iowa, or Ioway, Indians, Iowa joined the Union in 1846.

More...

Zip Code Profiler

Neighborhoods, Home Values, Schools, City & State Data, Sex Offender Lists, more.

Instant Home Value!