The cost of having to repair or renovate your home after a natural disaster or after an accident or unfortunate incident like a flood from a burst pipe can be quite expensive. You definitely don't want to be responsible for footing the bill yourself. Due to this reason, it's imperative that you purchase home insurance to protect your most expensive and valuable asset. Although you can change some aspects to your home insurance, like raise your deductible, most factors that determine the premium of your home insurance are fixed. Even if you raise your deductible, most insurance companies will limit you from raising your deductible to over $1,200. There are only certain variable factors that you have control over. This article looks at 3 of them.

The Type of Alarm System Installed

You'd be surprised at just how much your premium can be lowered if you have an upgraded alarm system in your home. The alarm system needs to be monitored by an agency, which basically means that a representative from the agency will contact the police or the fire department for you should anything happen. In addition, most insurance companies require that the alarm system be connected throughout the entire home. Although installing an upgraded alarm system might cost you a bit more initially, you'll quickly recoup these costs from the amount you save on your premium.

Whether You Want Coverage for Any Valuables in Your Home

The type of coverage that you opt for will also highly determine the cost of your home insurance. While you generally have to have liability coverage and coverage to repair any damages that occur, you might be able to skimp out on coverage that covers the cost of any valuables that go missing or are stolen from your home. However, before you downgrade, it's important for you to consider the total value of your valuables as well as whether there are any limitations or restrictions to the type of valuables or the value of certain valuables that are covered under your home insurance.

Additional Coverage to Provide More Protection

Before you sign on the dotted lines, go over the home insurance policy with an insurance agent. You'd be surprised at just how much extra coverage you might be paying for. For example, you might be paying extra for earthquake insurance even though earthquakes are not common at all where you live.

Conclusion

Scrutinize every aspect of your home insurance to determine what you're getting. Many people opt for the basic package that is offered without understanding what they are paying for and what they can opt out of. An insurance agent can listen to your concerns and help you customize a package that better suits your needs and your wallet.