Q: What should I know about when it comes to homeowners insurance?

Purchasing a house is probably the greatest investment the average person will make in his/her entire being. You should be prepared to protect this investment and there is no better way to do that than to purchase homeowners insurance. Depending on where you live, what type of house you own, and your credit history, your premiums will either be higher or lower than you want.

Nevertheless, with today’s large variety of companies that provide homeowners insurance, it shouldn’t be difficult at all to find the policy and the price that will fit your budget and your lifestyle. Keep in mind that you can raise your deductible if you want to save money. The more money you put in for your deductible, the more you’ll save. Here are some examples:

• $5,000 – save up to 37 percent
• $2,500 – save up to 30 percent
• $1,000 – save up to 24 percent
• $500 – save up to 12 percent

Here are some other great tips that you should consider when purchasing homeowners insurance:

• Shop around
• Try purchasing your homeowners insurance from the same insurer you might have purchased health or auto coverage
• When purchasing a home, keep in mind that the better condition that it’s in, the less you’ll have to pay for your homeowners insurance
• When considering how much you need to insure, don’t include the land that your house is on
• Try improving your home security and safety by doing some things on your own, such as installing a fire alarm, and a burglar alarm
• Quit smoking – this will decrease the risk of fire occurring in your house
• Stay with the same insurer in order to receive discounts throughout time
• Try looking for group coverage