A Rise in the Cost of Living ... Home

The cost of home insurance has been on the rise. In some cases premiums increased close to 10% in 2007.

Looking at ways to save money on home insurance can be tricky, especially when your property is on Cape Cod.

One way to save is by combining your home and auto insurance policies together. Using the same company for both may save you up to 20% on the home insurance policy. Be a diligent consumer and as with any other service, get three estimates from three different companies. Use a different agency to get the quotes. 

Also, Home insurance policies are tiered as needed. There are minimal coverage policies that only cover certain items if damaged, mid level packages that most homeowners have and extensive packages to include possessions, finishes and replacement. Living in a coastal area, you may want to have a policy that sits between the mid level and extensive.

Check with your insurance agent in regards to what is actually covered. In some policies, high end finishes are not covered and if a home needs rebuilding, the insurance company will pay for basic finishes only.

Review your deductible as well. In most case there is no need for a low deductible and most of us are paying for one. Paying a higher deductible can save you hundreds per year.

These are some basic measures to take when looking to save money on your homeowners insurance. There could be more. Call your insurance agent and you may be surprised at where you are overpaying and could save money.