It is important to keep in mind that your homeowner's insurance will replace your possessions in the event of loss. Your insurance must be comprehensive enough to cover your items, yet affordable at the same time. The guidelines below will help you know what to look for when purchasing your insurance coverage.

Save money on your homeowner's insurance by not purchasing items that are potentially injurious. Building a swimming pool or buying a trampoline can raise your annual premium by as much as ten percent or even more. Instead, visit the neighborhood pool or playground and get the same enjoyment for a lower price.

To save money on your homeowners insurance, you should pay off the mortgage as soon as possible. Most companies will consider you a smaller risk when there is no debt against a property and you will take better care of the property. Look into how much faster you can pay the loan off, by refinancing at 15 years instead of 30.

You can save thousands of dollars and years of payments by making your mortgage payment on a bi-weekly basis, instead of monthly. Ask your mortgage holder about setting you up on this payment program. Since there are 52 weeks in a year, you will end up making an additional couple of payments without breaking the bank or your budget.

If you are 55 for older, you can save money on your homeowner's insurance policy. There are discounts available for seniors, even those who are aren't yet 65. Look around until you find a company that provides this discount.

If you have any spare money in a savings account, use it to pay off your mortgage. When you own your home outright your annual home insurance premiums can drop dramatically as insurance companies tend to assume that home-owner's are more likely to take care of and secure their property.

Choose a policy that contains "guaranteed replacement value". You don't want to end up in a trailer instead of a home similar to the one you have been paying for, for years. This way, if your home is destroyed, the insurance will build it back the way it was rather than just give you the depreciated value of the house and its contents.

You should consider the increase in home insurance that you will face if you invest in a swimming pool or trampoline for your property. These items are deemed risky and will likely raise the cost of your premiums by roughly ten percent or even more for the year.

Make sure your homeowner's insurance policy is a "guaranteed replacement value" one. This protects the investment you have made in your home, because if your home is destroyed in a natural disaster, it will be reconstructed, regardless of the cost. Building a home increases in cost every year. This type of policy gives you a financial cushion and absorbs the increasing home-building costs, so you don't have to.

Educate yourself regularly on current home owner's insurance rates. The rates for insurance are often changing. This means your coverage and what you are paying for it, could constantly be changing as well. Make sure you stay abreast of what is going on with your policy, in order to avoid paying too much or not getting enough coverage.

An annual review of your homeowners insurance policy could lead to a considerable lowering of your premiums. In the event that you have installed any type of security or safety device such alarms or indoor sprinklers, a call to your insurance company and provisions of proof of these changes will result in substantial savings for you.

If you happen to live in an area that is prone to flooding or mudslides, it is important to inquire about buying supplemental flood insurance. Most standard home owner's policies do not provide coverage for floods, but you can purchase coverage through the federal government for flood or mud slide damage.

Consider insulating your water pipes to help protect your home. Damage resulting from water pipes that have burst is among the most frequent house insurance claims. Any type of insurance claim will increase your insurance premiums; therefore, winterize your pipes by insulating them to help protect against burst pipes. If you will be going on vacation in the winter, you may want to have someone come keep an eye on your home.

Keep these guidelines in mind when you are ready to purchase your homeowner's insurance policy. Keep your focus the information you have just learned, then you will have enough data to make an informed decision.