Quick Ways to Lower Your Homeowner"s Insurance Costs

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What you pay for your homeowner's insurance can vary by hundreds of dollars depending on the many different factors.
It always pays to review your policy at least once a year even if you do not have any major changes.
Here are some quick ways to lower your costs and save money right away.
Your coverage amount should be for the amount that it will take to rebuild your house.
What you actually paid for it for and what you may sell it for is irrelevant.
Remember things like fire, theft and hazards will affect the actual building and not the land your house sits on.
Therefore, including land costs when deciding how much insurance to buy will end up costing you more.
The insurance company will only pay for your house to be build and possessions replaced.
  Check your policy to determine your current deductible amount.
The deductible is the amount of money you are responsible for before the insurance company starts paying for your loss claim.
The higher your deductible is, the lower your premiums will be.
Although many insurance companies suggest a $500 deductible, they many not inform you that with raising it to $1000 you can save 20 to 25 percent of your premium cost.
Just remember to also check for other deductibles if you live in a disaster prone area.
Some companies have different terms and a separate deductible for things like windstorm, hail storms, earthquakes and floods.
  Review your coverage for possessions.
Thing may have changed over time and some of this coverage could be lowed or eliminated.
For example your high end entertainment center is old now and not worth the same amount as when you first added it to your policy.
This can also apply to jewelry, computers, golf clubs, art work, collections and other things that may no longer be around or valued lower.
Some of these items may have been part of an add-on policy or floater so be sure to check that.
  Make it standard practice to review and evaluate your homeowner's policy at least once a year and every time you make any major additions or purchases.
Just by reviewing the above and being diligent you can make sure you have sufficient but not extra coverage to protect your home.
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