Hi friends I'm Laura Adams and you're listening to the Money Girl

podcast. My personal mission is to help you live rich and love the journey.

So I really appreciate you joining me this week.

In today's show, we're going to talk about homeowners insurance and some very surprising

information about what influences the rate you have to pay.

This is important if you already own a home, but it's also excellent knowledge to have if you're

currently renting and might become a homeowner one day.

Fortunately, there are smart ways to get high quality home insurance and still save money.

In this episode I'll cover five surprising facts about what affects homeowners insurance quotes, how to save money,

and how to prevent your premium from ballooning over time.

To read the transcript for this show and get links to all the resources that I'll mention

visit the moneygirls section at quick and dirty tips.com this is episode number

386 called five surprising facts and savings tips about homeowners insurance.

When you buy a home, your lender will require you to have a minimum amount of homeowners insurance in order to protect what they're financing.

You must be able to repair or replace the property if it gets damaged or destroyed by a covered event such as fire, wind, or hail.

But in order to protect your own interests, you should have a comprehensive homeowner's policy

that goes above what a lender

requires. For instance, every homeowner should have liability coverage to stay safe from a lawsuit.

Plus, loss of use coverage pays when you're forced to move out while

repairs are made due to a covered disaster. However, unlike with auto insurance,

there's no law that says you have to purchase any amount

of home insurance.

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