valued at about 20% of the insurance on your home.
____ Boost your credit. Insurance companies run your credit report when calculating the premium for coverage. For a better rate, make sure your FICO score is on par. Visit Annualcreditreport.com for a free look at reports from all three credit bureaus to keep track of your credit. You can also visit Myfico.com to purchase your credit rating.
____ Ramp up security. Many insurance companies will give a discount when you install smoke detectors, burglar alarms, and dead-bolt locks. Some companies will also give a discount for homes and buildings with sprinkler systems.
____ Review your policy before renewing. If you’ve made any upgrades to your home, bought or sold jewelry, art, and other items, or if the rate of inflation has risen since your policy began, your current coverage may no longer meet your needs. Update your coverage amount each year to keep up with your personal changes or the changing economy. Visit Insweb.com to compare quotes.
____ Get a C.L.U.E. The Comprehensive Loss Underwriting Exchange report contains the insurance claim history of a home and can help you judge some of the problems the house may have that may affect the type of insurance you need, according to Bankrate.com.
_____ Know how to file a complaint. If you need to settle a dispute with your insurer, you’ll need to contact your state’s insurance commissioner. The National Association of Insurance Commissioners has a link to the insurance departments for every state on its Website.
View a printable checklist to keep track of your progress here.