Money Talks News: Year-end review house insurance

Money Talks News - With visions of sugarplums dancing in your head, it's hard to focus on mundane things like insurance.

But reviewing your insurance, like your homeowners insurance, every year is really important. Is it boring? OK, fine, it's a little boring. But saving 20 percent on your premiums isn't boring. First thing you need to look at is your deductible.

The more loss you'll pay, the less your insurance will cost. Raising your deductible from $250 to a $1,000 could slash your premium by 10 to 30%. That's a lot of savings, without a lot of extra risk.

Other ways to save? Check for multi-line discounts that's insuring your house and car with the same company.

And don't over-insure. If you paid $150,000 for your house, you don't need to insure it for $150,000. That's because the lot it's sitting on isn't likely to burn down. So you want to insure the value of your house, not the lot.

Thousands of fires are caused every year by smoking. Some companies offer non-smoking discounts. See if yours is one.

And speaking of discounts, there are lots of other ones out there. Like senior discounts, or discounts for adding a burglar alarm. What discounts could you get? You won't know till you ask.

Then there's shopping. Most of us shop for milk or gas harder than we do for insurance and that's not right.

What you've got to do every year or two, is make sure you're getting the best deal.

Hop online.

The Internet makes shopping simple.

There more ideas to conduct your own insurance review and they're waiting for you at the Money Talks News website.

Go there and do a search for "home insurance."

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