Guides / The cost of owning
Homeowners insurance: what to check every year
Dwelling coverage, deductibles and what isn't covered.
Homeowners insurance usually renews automatically. A yearly review makes sure you're covered for the right amount and not paying for things you don't need.
Check
- Dwelling coverage reflects the cost to rebuild, not the market price
- Personal property: replacement cost or actual cash value
- The deductible, and any separate wind, hail or hurricane deductible
- Liability limits
- What's excluded: flood and earthquake usually need separate coverage
Ways to lower the cost
- Raise the deductible if you have savings to cover it
- Ask about discounts: security systems, smoke alarms, a newer roof, bundling, claims-free
- Compare quotes for the same coverage at renewal
General information. We aren't an insurer, agent or broker. Better Home Budget isn't paid by any lender, insurer or contractor.