Geoff Williams
Journalist and Author of “Living Well with Bad Credit” and “C.C. Pyle’s Amazing Foot Race”Obvious homeowners insurance savings: You can probably figure out that buying smoke detectors, fire extinguishers and a home security system will reduce your homeowners insurance rates. After that, the brainstorming gets cloudier. Is there a trampoline in your backyard? A swimming pool? Getting rid of those would help, but if you have homeowners insurance, your agent has probably told you that. Not-so-obvious savings: Are you overinsured? Some agents won’t think about that. For instance, if you bought your house at $300,000, you may have told your agent that your house is worth $300,000. But that’s what your house and the land are worth. If a tornado levels your house, your insurance is going to replace your house. Your land, we hope, is still there.
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