Homeowners insurance is one of those things most of us rarely think about. It’s easy to put a policy in place and then forget about it — until it’s too late.

But for most of us, our home is the most valuable thing we will ever own — and it is typically filled with valuable possessions. Insurance coverage must address the value of the building — including upgrades — and the value of our belongings, especially high-value items like jewelry, antiques and other collectibles.

So taking the time to review your homeowners insurance — what it covers and how much you’re paying for it — is time well spent. Sure, it sounds mundane compared with planning a barbecue, but it can save you a substantial amount of money — and go a long way toward making you whole again if that barbecue turns into a blaze.

Check out these top tips for getting the best deal:

1. Shop around

Most of us spend more time shopping around for milk or gas than we do for insurance. But the internet makes it easy to shop around for insurance.

2. Raise your deductible

Sure, raising your deductible can be scary. But the larger the loss you are willing to absorb before the insurance kicks in — in the event of damage — the less your insurance will cost month-to-month. For example, raising your deductible from $250 to $1,000 could slash your premium by 10 to 30 percent. That’s a lot of savings, without taking on a lot of extra risk.

By Kentin Waits

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