Nov 292017
 

It is important to keep in mind that your homeowner’s insurance will replace your possessions in the event of loss. Your insurance must be comprehensive enough to cover your items, yet affordable at the same time. The guidelines below will help you know what to look for when purchasing your insurance coverage.

Save money on your homeowner’s insurance by not purchasing items that are potentially injurious. Building a swimming pool or buying a trampoline can raise your annual premium by as much as ten percent or even more. Instead, visit the neighborhood pool or playground and get the same enjoyment for a lower price.

TIP! If you have a room mate you want to look to see if their things are covered in a catastrophe. Some policies cover all possessions in the home, and others just cover yours.

Lower your annual home insurance premiums by raising your deductible. The higher the deductible, the less you pay. Even though you will be stuck with footing the bill for smaller problems you may encounter, it is worth it in the long run. Insurance companies tend to raise a homeowner’s premium after any claim they make, no matter how small.

Homeowners insurance is not optional. You need to be protected in case of floods, storms, burglaries or fires. If you have a mortgage on your home, you may not even have a choice about buying homeowner’s insurance; it’s probably required by the terms of the loan.

Check the status of your homeowner’s insurance premiums at least once a year, to see if you may qualify for a lower rate. Your current rate may be based on an old crime statistic, for example, or you may have installed a security system that could lower your rates. Discuss these changes with your insurance agent.

TIP! It sounds silly, but did you know that you could be held responsible if a would-be burglar is injured on your property? Who would have thought? Trespassers can sue for injuries sustained on your property. Don’t let this happen to you — homeowner’s insurance is an absolute must-have.

Keep these guidelines in mind when you are ready to purchase your homeowner’s insurance policy. Keep your focus the information you have just learned, then you will have enough data to make an informed decision.

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