The first, comparing prices from several insurance companies, you’ll probably be able to reduce your premiums by a substantial amount.  Second, if you buy your policy online you can often get a discount of up to 20% on normal prices, because there are less administration costs involved and the savings can be passed on to you. The third, Many insurers will give you a discount if you take out both types of home insurance with them,and this usually works out cheaper.

The fourth,  Pay a full year’s premium in advance, then this will work out cheaper in the long run. Fifth, to claim for anything your policy covers, but ask yourself if making a small claim is really worth the hassle and possible future costs. Sixth, choose to raise your excess to a higher level, then your premiums will be lower. the last, Beefing up your home security with better door locks, window locks, outdoor lighting, and alarm systems can all result in lower premiums. Ask your insurer what you could do to get extra discounts.

Please do not just accept quote and give your money away to the insurance company. Use the tips above and get the right cover at the right price.

There is a simple principle that can be applied to almost all of your property and casualty insurance purchases that will save you premium dollars. Self insuring is that principle. The smart insurance shopper eventually grasps the concept of self insurance. The whole idea around self insurance is using deductible options and eliminating unnecessary coverage. The days of the $100 Collision deductible on auto insurance is fading fast and it should. The higher deductible saves you in premium dollars. That is what we call self insuring. When you change your deductible from $100 to $500 you are taking on the risk for the first $500 of physical damage.

You will save a ton of money in the long run. You don’t have enough claims over a lifetime to warrant having a low deductible. You are paying the insurance company money for services they may never perform. You will save thousands of dollars by keeping your deductibles $500 or higher.

There are a lot of optional coverage’s in auto and homeowners insurance that you may want to eliminate to save money. Most states have tort options. Full tort verses limited tort can sometimes be a difference of 20% in your auto insurance premium. Rental reimbursement and towing benefits are added onto auto insurance all the time. You may want to self insure for these and save premium dollars as well.The insurance purchase can be easier and more affordable if you can grasp the mindset of self insuring.

Replacement Cost or Actual Cash Value – This facet of your home insurance policy should be clearly understood. Replacement cost insurance on both your dwelling and its contents means that the insurance company will rebuild or replace your loss with like kind and quality. Actual Cash Value will calculate the replacement cost and then subtract for depreciation.

Accurate Dwelling Amount – This is the first most critical decision that you will make. The square footage of your dwelling has to be correct in establishing the replacement value of your home. The market value is of little use to you when you purchase insurance to rebuild the structure. Check with your insurance company underwriting guidelines.