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While Homeowner policy premiums are calculated on a variety of factors such as location, dwelling value, and characteristics of the home, there are some variables that are within the homeowner's control. Here are some tips to help reduce the premiums:

- Maintain a good credit history by paying all bills on time. Check your credit score annually and clear up any discrepancies.

- Don't make small claims. Homeowner insurance is not a "maintenance" policy, but rather it provides coverage for large or catastrophic events. Insurance companies often raise rates or may even non-renew a policy if there are a large number of small claims.

- Increase the deductible.

- Check your Clue (Comprehensive Loss Underwriting Exchange) Report, which shows any claims made for you or the risk address for any errors.

Also, make note of these general tips about Homeowner insurance:

- Make sure your have enough coverage! If your home has been renovated and a large addition has been added, make sure to let your Account Manager know, as the dwelling coverage may need to be increased.

- Remember that Flood and Earthquake is not usually covered in a Homeowner policy, but coverage can be provided by a Flood policy or Earthquake endorsement. Also make sure the Water Back-Up coverage on your policy is sufficient in the event of a loss caused by the water back-up of sewers and drains.

Posted 7:55 AM  View Comments

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