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Things that can lower your premiums
The higher the deductible, the lower your monthly premium will be. It doesn't make sense to have any deductible below $500 or $1000 because you won't want to put in claims for things that cost that little anyway. Remember, homeowners insurance is like auto insurance. If you put in too many claims they'll drop so fast you'll think you're skydiving-Bundle auto and homeowners insurance. Some things that could reduce your property insurance are:
-Construction of house (materials used either concrete or wood basically)
-Location of the property
-Smoke detector
-Alarm system
-Fire alarm: Centrally monitored, local (rings only at home).
-Burglar Alarm System: Centrally monitored vs. rings only at home (local).
-Distance to Fire Hydrants
-Distance to Fire Station
How much insurance do you need?
The answer to this question is pretty simple. You should take out enough insurance to cover the cost of rebuilding your entire home if necessary. Be careful here, construction costs have probably risen since the house was built so take out enough insurance to cover any inflation. Although complete destruction of your home is rare, protect yourself so you don't get caught with your pants (or your walls) down.
Always read the fine print of your policy. Check your policy carefully for limitations, exclusions and deductibles. For example landscaping, personal property, etc. Unscrupulous insurance companies can take advantage of you here.
We recommend that you periodically review your policy to insure that you have sufficient coverage that you need and discounts that you may be entitled to. Sometimes you may have added something to your home that can reduce your premium since the policy was initiated.
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