Tips on Saving on Homeowners Insurance

You may be able to save hundreds of dollars a year on your homeowners insurance by shopping around. You can also save money with these tips.

• Consider a higher deductible. Increasing your deductible by just a few hundred dollars can make a big difference in your premium.
  
• Ask your insurance agent about discounts. You may be able to get a lower premium if your home has safety features such as dead-bolt locks, smoke detectors, an alarm system, storm shutters or fire retardant roofing material. Persons over 55 years of age or long-term customers may also be offered discounts.
  
• Insure your house NOT the land under it. After a disaster, the land is still there. If you don't subtract the value of the land when deciding how much homeowner's insurance to buy, you will pay more than you should.
  
• Don't wait till you have a loss to find out if you have the right type and amount of insurance.
  
• Make certain you purchase enough coverage to replace what is insured. "Replacement" coverage gives you the money to rebuild your home and replace its contents. An "Actual Cash Value" policy is cheaper but pays only what your property is worth at the time of loss-your cost minus depreciation for age and wear.
  
• Ask about special coverage you might need. You may have to pay extra for computers, cameras, jewelry, art, antiques, musical instruments, stamp collections, etc.
  
• Remember that flood and earthquake damage are not covered by a standard homeowners policy. The cost of a separate earthquake policy will depend on the likelihood of earthquakes in your area. Homeowners who live in areas prone to flooding should take advantage of the National Flood Insurance Program.
  
• If you are a renter, do not assume your landlord carries insurance on your personal belongings. Purchase a separate policy for renters.

NAIC National Association of Insurance Commisions
The mission of the NAIC is to assist state insurance regulators, individually and collectively, in serving the public interest and achieving the following fundamental insurance regulatory goals in a responsive, efficient and cost effective manner.

InsureKidsNow.GOV
The federal government and the states together offer health insurance coverage for children through Medicaid and the Children’s Health Insurance Program (CHIP). These programs serve families who are not able to afford health insurance coverage in the private market or do not have coverage available to them. Every state’s program is unique and has individual income eligibility rules and benefits covered, but in general, children in families with incomes up to $44,500 per year (for a family of four) are likely to be eligible for coverage