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Courses in this Department

How to Save on Energy Bills

Save Money by Cancelling Your Private Mortgage Insurance (PMI)

How to Buy a Foreclosed Home

Energy Conservation for the Kitchen

How to Insure Your Home and Save Money

Lower Winter Heating Costs

File Your Income Tax Returns Early and Save Money

Top Five Homeowner Tax Saving Ideas


Pitfalls to Avoid

1. Not knowing exactly what is covered by your policy.

2. Not realizing that part of your escrow payment is an insurance policy.

3. Thinking that home insurance rates are regulated and therefore the same. They aren't. Check around to save money.

4. Having a policy that doesn't pay the entire cost of replacing the home if it were destroyed. Make sure your policy pays what it would realistically cost to rebuild from scratch.

5. Not having a policy that states you will be paid in replacement cost value, not cash value. Replacement costs vary. Cash value doesn't. This is a good way to get caught short.

6. Not having a written and photo record of your stuff�especially the big ticket items-and not knowing how much you paid for those items.

7. Not finding a safe place to keep your record is a mistake too. If the home is destroyed, what good is it if your list was in the hall closet?

8. Not looking at your building codes when figuring your replacement costs. Some new codes could substantially raise the rebuild cost.

9. Not revamping your insurance before and after a remodel.

10. Assuming you don't need flood insurance because you don't live on a flood plain.

11. Not shopping around for the best deal or biggest discounts.

That�s It in a Nutshell...

The inside scoop on homeowner�s insurance. Ready to test your knowledge by taking the quiz?

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