Homeowners in Virginia may be surprised to know that they can purchase insurance for their home and its belongings that will actually cover the entire cost if it's all lost in a fire. Obviously this type of insurance is going to be the most expensive and is not really necessary for everyone. After all most people are simply looking for ample coverage with the best rates possible.

There are a few tips that a homeowner can use to better their chances of finding a great rate:

o Raise the deductible on the policy. Most policies are written with a low deductible. This is actually something that homeowner's insurance agents do not even discuss with clients. During the quotes process, ask for a higher deductible and you'll see a better rate.

o Avoid small claims. If you break a window or suffer some water damage and you can pay for the repairs yourself, consider doing so. Each small claim you make against your homeowner's insurance policy can cause the premiums to rise at renewal time.

o Do some repairs. Depending on where you live adding storm shutters can reduce the rates of your insurance. Homeowners of older homes may also enjoy lower rates if they have the electrical system in the home updated.

o Buy a fire extinguisher. Insurance companies reward homeowners who take safety precautions and if you have a fire extinguisher in the home mention this to your homeowner's insurance agent to see if it qualifies you for a discount.

o Ask about senior citizens discounts. Many insurance companies offer a rate reduction for seniors.

Although you may never need to utilize your homeowner's insurance it's good it knows that it's there if you ever need it. Keep the policy in a secure place such as a fire safe box or safety deposit box at a bank. It's also a wise idea to keep a list of your important personal affiliations along with the policy just in case you ever do need to make a claim.