Saving money has never been so trendy. Long gone are the days of irresponsible spending, so why be irresponsible with your homeowners insurance? Taking a little bit of time to research your options might just help you save a little in the wallet and put more in the bank.

Here are four tips I recommend:

1. Shop around. Some insurance companies have been raising house insurance costs to recoup losses from the financial crisis. Others are competing for new customers by offering lower rates. By shopping around, people can find better deals on homeowners insurance.

2. Re-evaluate coverage amounts. Many policies have inflation protection provisions, which automatically increase coverage amounts. This was a good item in the years leading up to the crash, but today they should be looked at more closely.

3. Check personal credit reports. Homeowners insurance companies check credit history before figuring rates, similar to how lenders do. This is done to help them assess the risk of payment and likely individual responsibility. Check your credit report and make sure it’s accurate so you can get the best possible rate.

4. Small claims can become expensive. Homeowners should have the highest deductible they can comfortably afford and repair minor items out of pocket rather than filing a claim. Filing a claim for every broken window or leaky pipe can increase premiums by 10-15%.


If you need a good insurance agent referral, please let me know and I will put you in contact with my preferred insurer.

Take a Minute to Update Yourself on Both Local and National Housing Market Trends: http://soldwithsmoot.housingtrendsenewsletter.com/