Looking back can be forward-thinking for 2012, at least when it comes to your homeowners insurance. That's because major repairs or improvements that you made to your home last year can get you a discount or a lower quote on this year's coverage.
That's according to Jeanne Salvatore, senior vice president for public affairs at the Insurance Information Institute, a nonprofit industry-supported communications organization in New York City.
"A sturdy roof will keep wind out, updated electrical can reduce the risk of fire, and if you've updated plumbing, you're less likely to have problems with leaks or pipes bursting," she says. "All of that can save you money on your insurance."
Call your agent or carrier and make sure your file is current with the latest information about your home.