With gas prices fluctuating, the mortgage crisis and economic conditions threatening a recession, people everywhere are looking to save money. According to Frank N. Darras, one of Americas’ top insurance lawyers, you should start with your homeowner’s insurance policy.

Many people have failed to determine if their current insurance coverage would be adequate to replace their homes. Your policy should allow you to completely rebuild your home should a disaster occur. If not, get your policy updated to match your current property values.

Darras offers these tips to save money:

• Determine the limits you want on your homeowners insurance, what value you need to insure, get multiple quotes.
• Consider purchasing your homeowner, auto and umbrella insurance with the same company so a multi-coverage discount will apply.
• Having smoke, burglar alarms and a sprinkler system could mean bigger discounts.
• Get a quote for insurance that would pay to replace your belongings, rather than pay you based on their depreciated value.
• Ask your agent what documentation you need to substantiate a claim, in case of theft or fire. Make sure you videotape all of you personal properties including what is in the drawers and cabinets and send the tape to someone you trust for safekeeping.
• Make sure you carry enough liability coverage to protect you against a lawsuit if someone gets slips, trips or gets hurt on your property.

According to A.M. Best Co, you may want to consider increasing your liability coverage if you add a pool or hot tub to your property.

Almost 3,600 people drowned in the United States in 2005, many of them in residential pools. Accidental drowning is the leading cause of accidental injury death for children 4 and younger and is the second leading cause of unintentional injury death for children under 14, according to the National Center for Injury Prevention and Control. For ever child who drowns, another four receive emergency treatment for near-drowning accidents.

According to A.M. Best, your homeowners policy normally limits coverage for other structures to 10% of the amount your home is covered. So a $100,000 home might have $10,000 in coverage for your pool and other structures.

Before installing a pool, A.M. Best recommends the following tips:

• Make sure the contractor has liability coverage by asking to see proof of insurance
• Check with your local town or municipality to see if a fence or other safety equipment is required.
• Install a four-sided pool fence that completely separates the house and play area of the yard from the pool.
• Always make sure a responsible adult is watching young children while playing around water.