Homeowners insurance tips to getting the most out of your insurance policy.

Smart Tips for getting the most from your home owners insurance:

Be sure to understand the difference between actual cash value and replacement cost and be confident your agent understands the value of your home. Actual cash value can be a vague amount; the amounts of money homes are selling for around you may not be accurate for your home. Replacement with most companies means "new for old" in other words if your home is lost in a fire, you will have coverage to buy or build and install a new home of comparable size and quality.

Don’t under estimate the value of your personal property. We all have a tenancy to forget what all our "stuff" costs until we loose it. Start by making a list of everything from sox to silverware and take photographs. Try to update your list every year and store this important information off premises.

Schedule your valuables. Most of us have a few things that are very valuable to us. Things like jewelry, art, guns, furs, and antiques can be scheduled specifically on your homeowner’s policy for very little additional cost.

Be aware of your deductibles. A deductible is the portion of a covered loss that you are responsible for. Many companies have separate deductibles for different things that can happen. A good agent will advise you of the options and provide alternatives.

Claims are the reason you have insurance. The what if’s in life can and do happen. When something does happen call your agent. It’s very important to notify your agent as soon as possible and let them help you through the process. A good agent will be there to answer your questions, advise you how to proceed and what to do to prevent further damage. Your agent should also be available to talk to the company and the local adjuster if needed to help you make the necessary repairs as quickly as possible.

Ask your agent to compare coverage, pricing, possible discounts, and overall rating of the insurance companies you are considering to protect your home. Shop smart by using an agent that knows what you have and will offer more than one company and type of coverage.