With much dispute in the news, the issue of H.R. 4173 has finally come to a decision. Recently, Senator Tom Harkin spoke with and persuaded a congressional conference committee to add a provision to this bill, classifying indexed annuitites as state-regulated insurance products. This is great news!

On another positive note, the United States Court of Appeals presented rulings of null and void on the topic of the SEC Rule 151A. Being stated on July 12, 2010, this showed victory for agents and consumers who rely on the Fixed Index Annuitities’ guarantees. Although the SEC will more than likely drop efforts to regulate these products, organizations like NAFA (National Association of Fixed Annuities) will continue until complete assurance arrives that the threat has passed.

1. Increase Your Deductible

Increasing your deductible by just a few hundred dollars can make a significant difference in your homeowners insurance premium. Most deductibles start at $500—if you can afford to raise your deductible to $1,000 or even $2,500 you could save 20% or more on your rate. Remember, raising your deductible means more out-of-pocket expenses should a disaster occur, but the lower rates may be well worth it.

2. Buy Your Homeowners and Auto Insurance from the Same Carrier

Purchase your homeowners insurance and car insurance from the same insurance carrier and you could save you up to 15 percent on both premiums. It’s called a multi-line policy, and just about any insurer that offers both products will be able to provide one.

3. Insure Your Home, Not the Land Under It

Homeowners often overpay for homeowners insurance by including the value of their land in their replacement cost coverage level. Remember that you only need to insure the home itself and your possessions, not your land. In the event of a total loss due to a fire or other disaster, your land will most likely be just fine.

4. Take Advantage of Discounts
   • Home Security and Safety Features: Smoke detectors, security systems, deadbolt locks, storm shutters and fire-retardant roofing can help you lower your rates.
   • Not Smoking: Some insurers charge lower premiums to smoke-free households.
   • Senior and Loyalty Discounts: Insurers often offer discounts to seniors and long-term customers.

There are multiple homeowners insurance discounts that you might not know about. And what you don’t know could cost you. Common discounts include:

5. Shop for the Best Homeowners Insurance Rate

Comparing homeowners insurance rates from multiple providers is the simplest, easiest way to save money on your policy.