Shopping for homeowner insurance is one of those nagging home buying details that sometimes manages to slip though the cracks. To save yourself trouble, it's a good idea to start shopping for a homeowner policy as soon as your purchase offer is accepted. Here are a few tips about buying homeowner insurance that are designed to save you time and money:

Deductibles
You can save money by having a higher deductible on your policy. Typically, insurance companies will start giving discounts at a $500 deductible and increase the discount as your deductible increases. Most companies offer deductibles up to $10,000. Be careful, however, because many mortgage companies will not allow you to exceed a $1,000 deductible, so check with your lender before opting for a higher deductible.

How Much Insurance Do You Need?
Insurance companies do not insure dirt. If you buy a home that includes a large lot, do not be surprised when you receive an insurance policy for much less than what you paid for the home. This is because you are buying coverage for the home and not the land.
Replacement Cost Coverage means each insurance company designates a percentage of additional coverage on top of the insured amount. This is designed to protect the homeowner who has suffered a loss from having to pay additional construction costs to rebuild. For example, if the dwelling coverage is insured for $300,000, and the company has 125% replacement cost coverage, the homeowner would receive an additional $75,000.

Policy Options
You have other options on your home insurance policy to choose from. Liability coverage protects the insured against claims arising from bodily injury and property damage to others. It is common to see $300,000 in coverage for liability, but the cost to raise it to $500,000 is about $20 more a year. You can have up to a $1 million coverage on most policies. For policies exceeding $1 million coverage, you will need an excess liability policy or €umbrella€ policy. Umbrella policies give you an additional $1,000,000 liability coverage for a $300 to $500 premium.

Available Discounts
Make sure that you are getting all of the credits for which you are eligible. If you have an alarm system that reports to a central station (a company such as Brinks or ADT), in some cases, you can get up to a 10% discount. If you are over the age of 50, you may be eligible for a discount.

The most common discount is the multi-policy discount. This will save you money on your home and auto insurance. By combining the two policies with the same company, you are given a certain percentage discount on both.

Review Your Policies
Call your agent and review your homeowner policy at least every three years. You never know when you will need to rely on it.
This document was compiled from an article, €Homeowner Insurance - Tips to Buying Homeowner Insurance€ which appeared on the website http://D106.

Absolute Insurance has been around since 1989, servicing its clients with knowledgeable, trustworthy agents who will explain to you the best policy options available to you to satisfy your unique needs. Whether you are looking for Homeowners, Condo, Auto, Boat, Motorcycle or an Umbrella policy for personal insurance; or Commercial General Liability, Commercial Auto, Business Owners, Commercial Property, Corporate Officers (Errors & Omissions), Workers Compensation, Bonds, Tools & Equipment, Towing or Long Haul Trucking insurance for your business, Absolute Insurance is your best choice to get your individual insurance needs covered.

For more information, please visit our website at http://www.absoluteinsurancepbc.com, or contact owner Dean Laible and his knowledgeable, hard-working group of agents at (561) 243-0700, or email them at absolute@absoluteinsurance.com. They are located at 3005 S. Federal Highway in Delray Beach, FL. You will be happy, and soon a satisfied client with an insurance policy that best suits YOUR needs!