When you own a house, you need to have homeowners insurance to cover damage to the home and injuries if someone gets hurt while they are there. The coverage that is required is different in every situation, so be sure to talk to your insurance agent about your coverage and if there is something more that you should have.
Working with an Insurance Agent
If you do not have an insurance agent that you work with regularly, you might want to take the time to find one that works with your insurance company. If the agent is set up to work with your current insurance carrier, they can help you add or remove things from your policy, file claims if needed, and help you find premium reductions when the opportunity is there.
If the agent is independent, you stand to do better with them, and they are more likely to tell you when you could get better coverage at a lower price with another company. The independent agent has more invested in keeping clients happy than pushing one company's insurance.
Special Insurance Coverage
Beyond the standard home coverage that you carry on your home, you may need some additional insurance in some situations. If you have a pool in your yard, there is coverage in case someone is hurt in the pool that you can get as a rider to your standard coverage. The same is true for people that have trampolines. The price of the added policy is sometimes high because of the inherent danger and the risk of coverage, but if someone falls off, it is essential that you have the coverage, so you don't get sued.
Low-Cost Insurance
Some companies offer inexpensive insurance plans, but if you are going to consider one of these plans, check with your finance company or bank if you still have a loan on your home, before buying one of these plans. The coverage may not meet the minimum coverage requirement for the finance company. The finance company can sometimes fine you, or worse, if you are not carrying the required insurance coverage.
Lower Your Premium
In some situations, you can lower the premium on your insurance plan by adding things like a monitored security system or a fire alarm system that is connected to a monitoring center as well. Ask your insurance agent for advice about what will help reduce the premium. They can help you choose some things to make the house safer and the insurance cheaper at the same time.
