How Much Do You Know About Saving Money on Homeowners Insurance ?

 How Much Do You Know About Saving Money on Homeowners Insurance ?

Sure, all of us like to think we're pretty savvy when it comes to saving money. After all, before you could afford the down payment on your home you'd probably been pinching pennies for years! Knowing how to save money is only part of the battle when it comes saving money on homeowners insurance though. You first have to understand what it is about your homeowners insurance policy that makes it so expensive in the first place!

Your homeowners insurance policy exists for two main reasons:

1)      To replace the cost of your house if it burns down courtesy of an exploding septic tank, crumbles beneath your neighbor's SUV or falls to pieces behind force 5 winds, and

2)      To replace your belongings in the event that your home is destroyed or a member of the criminal element with an eye toward profit and a minimal amount of self-preservation decides to help themselves to the contents of your living room, bedroom and wall safe.

Since your homeowners insurance exists for one reason and one reason only (to pay out money when you need them to)you can understand why they're understandably fastidious amount making sure their income is higher than their output. If you can help them save money they're going to be happy to help you do the same.

So how do you save money on your insurance coverage? The secret to saving money on homeowners insurance lies in making your home as safe as possible on as many levels as possible. First of all, how weather proof is your house? If you happen to live south of the Mason Dixon line (which, believe it or not, is still alive and kickin') or WAY west of the Mississippi getting through the winters might not be your first concern. On the other hand, if you've ever been privileged enough to enjoy a Colorado winter you're already well aware of how much damage the ice, snow and cold can wreck on your house.

Be sure your insulation is sound, your roof is made of sturdy materials, your windows are double paned and your foundation is all but impermeable. Newer houses are probably already going to be built according to the building codes of your particular area, but if you own an older home it would be wise to get it checked out.

One of the first questions your insurance agent is going to ask you before they give you a homeowners insurance quote is whether or not you have smoke alarms and a general purpose (i.e. chemical foam) fire extinguisher in the house. And they're going to want to know if you smoke. Believe it or not, household fires account for a huge percentage of homeowners insurance claims each year, and most of them start simply because someone left a hot cigarette but in an ashtray or forgot to turn the stove all the way off and they didn't have the resources they needed to stop the damage before it spread too far.

Finally, take a look at your home security system-please. Did you know that most homes, especially those that are in low income housing areas (and ESPECIALLY if you're renting) have locks on the front doors that cost $10 or less at the local hardware store? When it comes to your home's security you definitely get what you pay for, and you can guess how long it takes the average thief to get through this minimum investment door lock. Invest in deadbolts, and consider purchasing an electronic home security system. Not only will it go a long way toward helping you save money on homeowners insurance, it will also go a long way toward keeping your family safe from the things that go bump in the night.

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