HomeownersInsurance.com Announces Ways to Save on Homeowners Insurance without Sacrificing Coverage

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Homeowners looking to cut costs can most likely save some money on homeowners insurance, but they should make sure it is not at the expense of adequate coverage. HomeownersInsurance.com agents weigh in to help homeowners stay properly insured while also not overpaying.

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"It's more important than ever for homeowners to begin saving money on household bills- but you have to do it wisely." -James Freeman, homeowner

Homeowners looking to cut costs can most likely save some money on homeowners insurance, but they should make sure it is not at the expense of adequate coverage.

Earlier this year the Insurance Information Institute performed a survey where 48 percent of respondents mistakenly reported that they thought their home market value was directly linked to the amount of coverage needed on their homeowners insurance policy.

Before the housing market crisis this misunderstanding may not have been much of a concern as home values were much higher than they are now. However, as housing prices have fallen a homeowner could be left dangerously uninsured if they think their home value dictates what their home insurance policy should cover.

Homeowners looking to save money on homeowners insurance premiums should first talk to a licensed agent who can help them best determine the amount of coverage they really need for their home. Once they have established an adequate amount of coverage, there are ways to reduce premiums without losing coverage.

One way to reduce premiums is to comparison shop. Shopping with an agent who can compare multiple quotes is one way for homeowners to make sure they getting the best deal available.

Another way for homeowners to get discounts on their premium is to insure their home and vehicle(s) with the same insurer. Most companies will offer discounts in the range of 10-20 percent for homeowners who bundle multiple policies.

Lastly, a safe way to reduce premiums without losing coverage is to increase deductibles when it is appropriate. It’s important to not make deductibles higher than what a homeowner can afford to pay in the event of a claim. However, if a homeowner can afford to increase their deductible from $500 to $2,000, for example, they will likely see some substantial savings each month.

About HomeownersInsurance.com: HomeownersInsurance.com is an insurance shopping engine designed to compare quotes and coverage on homeowners insurance. Customers can purchase policies through a HomeownersInsurance.com agent with our list of trusted carrier partners that include Travelers, The Hartford, Safeco, Progressive and ASI/Ark Royal. For more information visit http://homeownersinsurance.com.

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Carrie Van Brunt-Wiley

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