Homeowners or Renters Insurance

There are so many expenses today that we are responsible for and any method in which one can save a few dollars is worth looking into. Home owner insurance or renters insurance should be a must buy to protect your belongings and assets. However there are tips in which you can lower the premiums that you need to pay.

- Shop around, look in the yellow pages, talk to your friends, do comparison shopping. The National Association of Insurance Commissioners, http://www.naic.org, has information to help you choose an insurer in your state, including complaints.

- most insurance companies recommend a deductible of at least $500. If you can afford to raise your deductible to $1,000, you may save as much as 25 percent.

- if at all possible combine your auto insurance with your home owners insurance policies. Many insurance companies will provide you with a 10 to 15 percent decrease if you have combination policies

- make your home more resistant to windstorms and other natural disasters. You may be able to save on your premiums by adding storm shutters, reinforcing your roof or buying stronger roofing materials.

- if possible install smoke detectors, burglar alarm or deadbolt locks the addition of these items may provide an additional 5% deduction off of your home owners insurance.

- Talk to your insurance agent, many companies will offer reduced rates if you are 55 years old and retired,

- Be a long-term policyholder. Some insurers will reduce their premiums by 5 percent if you stay with them for three to five years
and by 10 percent if you remain a policyholder for six years or more.