| You know you need homeowners insurance, but | | | | antiques, furs, and collections that are not |
| how much and what kind of homeowners | | | | covered by your policy, you can buy separate |
| insurance coverage do you need? Here are some | | | | insurance, known as a rider, to cover these |
| tips to help you decide. | | | | possessions. You can also get insurance to cover |
| What does homeowners insurance cover? | | | | floods and earthquakes. |
| Homeowners insurance provides coverage for | | | | How can I save money on my policy? |
| damage to your home, and most of the property | | | | You can save money on your policy by raising |
| in your home, caused by theft, vandalism, fire, | | | | your deductible - the amount you pay on a claim |
| smoke, plumbing damage, electrical damage, and | | | | before your insurance kicks in. Raising your |
| acts of nature. | | | | deductible from $250 to $1,000 will save you up |
| Homeowners insurance also provides coverage | | | | to 25% on your yearly premium. |
| for liability claims and legal fees if someone hurts | | | | Another way to save money is to bundle your |
| himself and sues you. | | | | insurance. Placing your home and auto insurance |
| Most insurance company's standard policies do not | | | | with the same company will save you as much as |
| insure you for damage caused by floods, | | | | 15% on your premium. |
| earthquakes, nuclear accidents, terrorism, and | | | | If you're a senior, many companies will give you a |
| war. They also limit coverage for expensive items | | | | senior discount that can save you up to 10% on |
| such as jewelry, antiques, furs, collections, etc. | | | | your premium. You can also get discounts if you |
| How much coverage do I need? | | | | have burglar alarms, smoke detectors, fire alarms, |
| Lenders often require homeowners to purchase | | | | sprinklers, and dead bolts installed in your home. |
| homeowners insurance based on the appraised | | | | Where can I find a reliable company with cheap |
| value of their home which includes the value of | | | | rates? |
| the land. Because you don't need to insure the | | | | The best place to find companies who will give |
| land, this is not the amount of insurance you need. | | | | you cheap rates is to go to an insurance |
| Instead, find out from a local builder what it would | | | | comparison website where you can get rates |
| cost to rebuild your home, or find out what | | | | from a number of A-rated companies. Some of |
| building costs per square foot are in your area, | | | | these sites even provide a chat service where |
| multiply that figure by your home's square | | | | you can talk with an insurance professional online |
| footage, and use that figure for your insurance | | | | and get answers to your questions. (See link |
| amount. | | | | below. |
| If you have expensive items like jewelry, | | | | |