Home Insurance Buying Tips

1. Increase your deductible! Your savings could reach 25% by increasing the deductible from $100 to $1000.

2.  Improve your home security.  Most insurance companies offer discounts for smoke detectors, burglar alarms, fire extinguishers, dead bolts and/or central alarm systems.

3. Consolidate policies. If you cover your home and vehicles with the same company you can reduce your premiums by 10-15%.

4.  Verify distance to fire stations.  If you live in the country you'll probably pay higher interest rates because of the longer distance to your local fire station.

5.  Consider construction type.  A wood frame house typically costs more to insure than one built mostly of concrete.

6.  Claims free record.  If you've not had a claim on your homeowners policy during the past 3-5 consecutive years, you could receive up to a 15% discount.

7.  Mortgage free discounts.  Some companies target homeowners who've paid off their mortgage and offer them discounts of up to 5%.

8.  Don't confuse purchase price with construction costs.  Whe you purchased your home you paid for the land on which it sits.  Land isn't at risk from damage.

9. Actual Cash Value vs. Replacement Costs