In addition to buying new draperies, carpeting and accent pieces, when you move into a new home, you need homeowner's insurance. Before your mortgage in Colorado is even funded, you need to show proof of insurance. It's a necessity and being prepared by having a list of what you need and don't need in a policy is a great first step. When you do start researching possible homeowner insurance companies remember these tips:
o Standard homeowner's insurance policies in the state of Colorado do not protect the home against flood damage. Many homeowners mistakenly believe their policy does, check this out and if you don't feel you need the extra coverage, don't purchase it.
o Install secure locks on all windows and doors in your home. Some insurance policies offer a discount for homes that have extra security in place.
o Choosing a cash value policy as opposed to a replacement cost policy can afford some savings in premiums as well.
o Having working smoke alarms throughout the house is another small tip that can save at least a little in premiums.
o Try not to make claims unless absolutely necessary. Over time, many companies will offer you a discount if you remain claim free. So if you accidentally break a window, think twice before applying it as a claim against your home insurance.
Staying aware of what type of coverage you have, what your premiums are for and how often you can renew, makes buying and maintaining home insurance much easier. Even though it's also great when you can save money, don't sell yourself short on how much coverage you really do need. You don't want to regret it should you suffer a fire or break-in. Although many of your personal belongings are indeed priceless, think clearly about what it would take to replace everything and look for the best priced policy that offers you that.
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