![\"home-house\"](\"http:\/\/financegourmet.com\/blog\/wp-content\/uploads\/2009\/02\/homehouse.jpg\" "\\"home-house\\"")
Christmas is over, but the bills might not all be gone. Plus, Uncle Sam is going to want his kickback, that\u2019s taxes to you and me, by April. Throw in a recession, and it is probably a good idea to look at saving some money.<\/p>\n Christmas is over, but the bills might not all be gone. Plus, Uncle Sam is going to want his kickback, that\u2019s taxes to you and me, by April. Throw in a recession, and it is probably a good idea to look at saving some money.<\/p>\n
If you\u2019ve been through your budget and you don\u2019t find anything out of whack (tip: if your cell phone bill is more than $60 and you aren\u2019t a traveling salesman, it\u2019s time to re-evaluate<\/em>) then we need to pull out some less used tips.<\/p>\n The dirty secret about homeowner\u2019s insurance is that filing claims will get you and your policy dropped by the insurance company. Those same claims will keep you from getting a new insurance policy with another company. Sometimes, as little as 3 claims in 2 years will get you dropped like a hot potato.<\/p>\n Since there is nothing you can do about how insurance companies behave, the next best thing is to work smarter within their system. Only file large claims and use your savings to pay for the nickel and dime stuff like a few shingles blown off the roof. Of course, if you aren\u2019t going to be filing smaller claims, then you shouldn\u2019t be paying for the coverage.<\/p>\n Raise your homeowner\u2019s insurance deductible to at least $1,000. Chances are a $1,500 or $2,500 deductible won\u2019t lower your rates that much more, but check anyway. Saving $10 a year to raise your deductible $1,000 doesn\u2019t make much sense, but if you can save $50 or $100 then that\u2019s something to think about.<\/p>\n If you are the very responsible type and you have the recommended 3 to 6 months of living expenses tucked safely away in an emergency fund that you never touch, you can even consider a $5,000 deductible which could significantly lower your home insurance. But, do the math first. It will likely only make sense if you have a high value home.<\/p>\n [ad]<\/p>\n Also, do a homeowner\u2019s review with your company if you have made any improvements or security upgrades. The new alarm system might be worth a discount. The same goes for removing anything that raised your rates. If you don\u2019t have a dog anymore, make sure they know that too.<\/p>\n Be careful that your insurance agent doesn\u2019t use your review to sell you other insurance, or even more home insurance. You are there for home insurance only, and you don\u2019t want to talk about life insurance, car insurance, or any other insurance, no matter how good of time it is, or how great the deal is. You especially don\u2019t care if rates are going up next month (a common insurance salesman line). <\/p>\n Also, there is no need to insure your home for full replacement value. Laws very from state to state, but generally, a homeowner\u2019s insurance policy provides for 120% or so, of coverage should your whole house need replaced. But, that kind of event is relatively rare. Even if you have a fire, chances are you\u2019ll be repairing the house, not rebuilding it from scratch.<\/p>\n <\/p>\n A major mistake many homeowners make is not getting flood insurance. Your regular home owner\u2019s insurance does not cover flooding. That includes not just a river flooding, but also a water main break, a broken pipe (outside the home), and many other issues. If you live anywhere near a river, lake, or ocean, flood insurance is a no brainer. But, don\u2019t assume you are safe if you don\u2019t.<\/p>\n Check your city planning office to find out where your home is located. Residentially zoned areas are generally categorized by flood plain status. If your home sits in a 100-year flood plain, you might risk it. But, don\u2019t assume a 50-year flood plain equals safety. The statistics don\u2019t quite work that way. Check with an expert.<\/p>\n <\/p>\n Christmas is over, but the bills might not all be gone. Plus, Uncle Sam is going to want his kickback, that\u2019s taxes to you and me, by April. Throw in a recession, and it is probably a good idea to look at saving some money. If you\u2019ve been through your budget and you don\u2019t find anything out of whack (tip: if your cell phone bill is more than $60 and you aren\u2019t a traveling salesman, it\u2019s time to re-evaluate) then we need to pull out some less used tips. Homeowner\u2019s Insurance Deductible The dirty secret about homeowner\u2019s insurance is that filing claims will get you and your policy dropped by the insurance company. Those same claims will keep you from getting a new insurance policy with another company. Sometimes, as little as 3 claims in 2 years will get you dropped like a hot potato. Since there is nothing you can do about how insurance companies behave, the next best thing is to work smarter within their system. Only file large claims and use your savings to pay for the nickel and dime stuff like a few shingles blown off the roof. Of course, if you aren\u2019t going to be … <\/p>\nHomeowner\u2019s Insurance Deductible<\/h3>\n
Flood Insurance<\/h3>\n
Technorati Tags: homeowners insurance,insurance,flood insurance,deductibles,saving money,money saving tips<\/div>\n","protected":false},"excerpt":{"rendered":"