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| Typical costs: | - If your state aggregates statistical data for insurance premiums, the best way to compare rates from many different carriers is to use your state's Homeowner's Premium Comparison or Homeowner's Insurance Consumer Guide. Many state Insurance Departments conduct surveys county-by-county based on amount of coverage and age of home, and can provide you a comparison of what different insurers are charging for similar homes in your area. CA, FL, NY, TX, National Directory of State Insurance Departments.
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| Discounts: | - Ways to decrease the cost of your homeowner's insurance include:
- Shopping around and comparing prices of different carriers.
- Making sure your insurer knows about any reasons for a discount, such as having a burglar alarm, a smoke detector in every room, etc.
- Getting multiple insurance policies from the same company, ie., getting homeowner's insurance and auto insurance from the same company.
- Many experts recommend against filing claims for small items less than several thousand dollars because filing could increase your premiums in future years, so it might make sense to have a deductible of $1,000 or more.
- Other tips for lowering your homeowners insurance costs are published by the Federal Citizen Information Center.
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| Shopping for homeowner's insurance: | |
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Article updated November 2006 |
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