The 2007 Groundhog Survey, carried out by the Insurance Information Institute, suggested that due to relatively low catastrophe losses in 2006 and a strong performance in virtually all other major lines of property/casualty (P/C) insurance, the industry should achieve its best underwriting performance since 1936. Surveyed analysts expected the industry’s profitability to continue in 2007, although with a much smaller underwriting profit, and the trend of decreasing underwriting profits was expected to continue in 2008.

• Consider protective devices (smoke alarms, fire extinguishers, deadbolts on all exterior doors etc) – and save up to 15%.
• Consider building house from Fire Resistive material – it could bring you up to 15% discount depending on the materials.
• The newer the house – the cheaper insurance (< 10 years old => 25% reduction).
• The older you are – the less insurance price (you might qualify for as much as a 10 percent discount).
• Always take inventory – it will help you to claim property worth.