Here are some money-saving tips: 1. Consolidate all types of property insurance (auto, homeowner's, and umbrella) with the same insurance company to receive premium discounts. 2. Avoid selecting low deductibles. Low-deductible policies cost more than those with higher deductibles and encourage the filing of small claims, which could result in the cancellation of your policy. 3. Be sure that the dollar amount of your dwelling coverage is at least 80% of the replacement cost of your home and is adjusted annually for inflation in building costs. 4. Consider an escrow account with your mortgage lender to set aside money monthly for the annual premium cost. As for finding information about the best service, check Consumer Reports magazine. This publication periodically reviews all types of products and services including homeowner's insurance. Your state department of insurance might also have information about insurance company costs, complaints, and service histories. We would like your feedback on this Personal Finance Frequently Asked Question.

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