Selecting the correct homeowner's insurance can be rather tricky if you aren't familiar with the sub...

1. How You Can Save Tons Of Money On Your Home Owner's
Insurance
Selecting the correct homeowner's insurance can be rather tricky if you aren't familiar with the
subject. Protect your home by using these useful tips to find a great policy.
There are a couple of different ways you can reduce your homeowner's insurance premiums. Take
the first step and install a good security system. You'll see that this can actually lower the cost of
your insurance by up to 5%! You have to prove to the insurance company that your system is being
monitored and was installed professionally, of course. Next, have smoke alarms installed in every
room. You can save up to 10% each year.
Pay off your mortgage to save on your homeowner's insurance. When you own your home outright,
an insurance company feels you are more likely to take care of it and protect it. Paying off mortgage
debt decreases your annual premiums.
To ensure that your homeowner's insurance claim is properly processed, ensure that you maintain
an updated inventory list of all your home's items. Anyone that has experienced loss can tell you that
it's difficult to remember all that you had at that time. Take pictures of the contents of your home
(remember cabinets and closets) for the most accurate record.
There are many things that can cause your home to lose value. Fire is one factor. You need a great
fire insurance policy that will protect your home from human error, arson, cars, earthquakes and
storms. Look over your policy thoroughly, and don't be afraid to ask questions to ensure that you are
completely protected from fire.
Flood insurance may not seem necessary if you don't live in a high-risk area, but it could be a good
idea anyway. As many as 25% of the claims made for federal disaster relief for flooding occurred
outside of areas considered high-risk. A price-reduction on flood coverage is included in most lowrisk locations across the map.
You may not think you need flood insurance if you live outside a high-risk flood area, but it may be a
smart idea anyway. 25% of all federal claims are for flooding outside of high-risk zones. You will also

2. find it cheaper to get insurance for floods if the area you live in is low or medium risk.
In order to reduce your premium costs, think about increasing your policy's deductible. Remember
that smaller repairs can end up being an expense out of your pocket.
Any injury on your property could result in a liability suit being filed against you. It may seem unfair,
but trespassers can assert their rights. Keep it in your mind that homeowner's insurance is
necessary.
If you plan to do renovations or upgrades to your property, remember that your choices may affect
your insurance rates. Your premiums may depend on the building materials you use. Because such
materials are more likely to hold up over time, your carrier may offer you a discount on your policy.
Look for insurers that offer a wide range of insurance products. Having policies with different
companies can end up costing you hundreds of extra dollars each year. In addition, it's easier to
manage all your policies because one agent is usually in charge of them all; therefore, he or she can
answer every single question you have. In addition, you can pay off all your premiums at one
location.
Buy multiple products from one insurer in order to receive additional discounts. Many insurance
companies provide discounts to those with multiple insurance policies. For example, having both
auto and home owner's insurance with a single company can lower your premiums significantly.
Get all of your insurance policies from one company to save money. Many insurance carriers offer
discounts for customers with multiple lines of insurance. You can save on premiums if you combine
your homeowner's policy and auto policy.
It is a smart idea to design an update or addition to your house with insurance factors in mind. A
simple choice of concrete as a building material, for example, can lower premiums with certain
insurance companies in regions throughout the country. The insurance carrier may often charge less
to cover the new addition as they believe better construction materials are least likely to suffer
damage.
You can place one-twelfth of your premium into an escrow account each month through your
mortgage payments. This will help you avoid the hassle of paying the premium every month on your
own.
You should be on top of auditing your home each year if you want to get lower insurance rates. This
will also help you avoid paying more than necessary for insurance as your personal items depreciate
in value with the passage of time. Depreciated values mean your home's contents aren't worth as
much as they were last year. Your policy must be continuously updated.
Following this simple advice will lead to simple results, including great coverage and better
protection. Make sure you are completely covered for any circumstances that may occur.