Is Homeowner insurance cover important? Yes - Your largest purchase in life is most likely to be your home. Therefore it is emparative that you have the best homeowner insurance possible. Unlike other insurance you should not skimp on home insurance. If you have a fire or other major catastrophy then your home insurance will become your life line.
You can take measures to reduce your other insurance policies. However we would not recommend skimping on home insurance. With homeowner insurance your main priority should be the level of cover the policy gives and not the price.
Do not take out homeowner insurance with anyone other than your mortage / realitor company. In the event of a major home insurance claim you are far more likely to get a successful claim if your homeowner insurance is with the same company as your house loan / mortgage. If not even in the event of say a major fire you may find yourself not covered.
As with most insurances you can reduce your policy by accepting a higher excess.
