Picture this: You and your spouse have just bought the new home you’ve been wanting for years. It has everything you want - a big yard for the kids and the dog, enough bedrooms so you can have guests overnight and still have your own home office, and a kitchen that would make Emeril Lagasse green with envy. Yes, all that time spent saving and searching has finally paid off. Your family is living in a dream home.

Until the dream becomes a nightmare when your next door neighbor is bringing you a welcome basket, slips on a loose step climbing up to your porch, and breaks both of her legs. Yes, at this point your dream becomes more than just any nightmare - it’s now a legal nightmare.

Unless you have adequate homeowner’s insurance.

With homeowner’s insurance, you can rest assured that you, your family, your visitors, your valuables, and your property will all be protected in the event of an accident, theft, vandalism, and damages caused by certain weather elements. As long as you have adequate homeowner’s insurance, your next door neighbor’s accident won’t result in a legal battle over who must pay for her injuries and how; your homeowner’s insurance will have it all taken care of.

It’s true that homeowner’s insurance isn’t a legal requirement, unlike automobile insurance, unless you’ve borrowed money to pay for the home, and you’re lender requires you to purchase homeowner’s insurance. For this reason, many people opt not to purchase homeowner’s insurance. Who needs the extra bill, especially if you’ve just purchased a new home? You need it, unless you want to pay hundreds, even thousands, of dollars should the “next door neighbor” scenario become a reality for you.

So, consider purchasing a homeowner’s insurance policy. Make any repairs your home might need, and take inventory of your valuables. Then, call up a few insurance companies that offer homeowner’s insurance and get quotes.

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People usually don’t expect to hear the words “insurance” and “entertainment” in the same sentence. Insurance is something you need, or wish you had, in the event of an emergency or even a tragedy. For example, you need car insurance when you’re involved in an accident, when your car has been vandalized, and even when your car has been stolen. You need homeowner’s insurance if your house catches fire, your valuables are stolen, or someone is injured on your property. You need health insurance to help pay for any kind of medical attention. And you, rather your family members, need life insurance in the event of your death.

Entertainment, on the other hand, is meant to entertain people; to make them smile, laugh, cry - whatever it takes to make them enjoy themselves. Entertainment isn’t about protecting yourself or anyone else. Entertainment is about making sure people have a good, and safe, time.

So, “insurance” and “entertainment” seem to have absolutely nothing in common, right? Wrong. There are many forms of entertainment out there that may make you and your family members wish you had some form of insurance.

Take stunt performers for example. These are the people who step in during television shows and big screen movies to perform the stunt scenes, i.e., the dangerous actions that most actors and actresses aren’t trained to perform, or would simply rather not perform. Stunt performers are also the clowns and lion tamers and tight rope walkers who provide you with entertainment at circuses around the world. Stunt performers are trained professionals who can usually pull of a stunt with what looks like amazing ease and grace; however, accidents do happen. Stunt performances can turn dangerous, causing injuries and sometimes even death. In the event injuries or death occur it’s reassuring to know that some kind of insurance, whether it’s health or life, is there when you and your family members need it.

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There is no doubt about the fact that insurance premiums are on the rise. They have risen so high, in fact; that many people simply feel they can’t afford them. Of course, considering the fact that insurance is generally required for your home and vehicle if you are still paying on a loan for these items, you can really find yourself in a Catch 22 situation. The good news is that will a little work there are a few techniques you can use to actually lower the cost of your insurance premiums.

In terms of your homeowners insurance, always try to shop around whenever possible to get the best deal. Provide all the pertinent information including a description of your home, the type of basic as well as additional coverage you need and find out what is available in terms of rates for different companies.

Another way to save on your homeowners insurance is to make sure that you keep your home in tip top shape, thereby reducing the need for losses and claims. You can do this by replacing any wiring that is old and informing your insurance company, insuring your roof is in good condition and using anti-theft and safety devices on your home.

In addition, discounts may be available if your home is newly constructed as well as if you install a monitored security system. This type of discount can amount up to 15% in some cases. Some carriers also offer what is known as a loyalty discount for customers who have been with them for several years.

By raising your deductible, you can also usually reduce your premiums. Even a $250 jump in your deductible could cut your premium by as much as 15%. Raise it even more and you could be looking at a 25% savings on your deductible.

By combining your auto and home insurance and purchasing it from the same company you also could be able to obtain anywhere from a 5-15% discount. Between the two policies that could amount to major savings.

Don’t forget to look at your insurance policies and determine exactly how much you need. It’s quite possible that you could be over-insured and may not need as much insurance as you think.

One factor many people are not aware of is that their land is typically included in the market value of their home, the often used to determine the amount of your homeowner’s policy. In reality, the value of your land should not be included in your insurance policy except under very special circumstances. If you can cut it, do so and you’ll save on the premiums.

Try to avoid small incidental claims whenever possible because they can drive up both the cost of your home insurance premiums as well as car insurance premiums. If it is a small loss and you can do without having it repaired for awhile or pay for it on your own without filing a claim on your insurance policy, then do it. The more claims you file, no matter how small, can often increase your premium amounts.

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