1. Comparison Shop –
Check with several different companies and see what your options are. Ask for rate quotes! If you use an independent insurance agent they can provide you with rate quotes from several different companies but don’t forget the big companies. Be sure to get started on rate quotes BEFORE your policy expires in case you run into a problem.
2. Checkout Deductible Options –
Your deductible is the amount of money you pay towards a loss or claim before your insurance kicks in to help. Home insurance deductibles usually start around $250 but if you increase your deductible to $500 you’ll save around 12% on your annual premium. Want to save more? Up it to $1,000 and save up to 24%. Up it to $2,500 and save up to 30%. Up it to $5,000 and save up to 37%.
3. Consolidate Your Policies –
Many insurance companies give “multi-line” discounts when you purchase both home insurance and automobile insurance from the same company.
4. Really Think About the House You Purchase –
Don’t skimp on the purchase. When you are looking to purchase consider the condition and age of the home. A newer home’s systems and structure should be in better condition than an older home and could have less expensive premiums.
5. What Are You Insuring? Land or Home?
Remember the home could burn and is at risk from fire, windstorm, theft and other perils but your land is NOT. Remember the land can’t burn down so why would you insure it? Be sure to take the value of the land out of the insurance amount.
6. Security Safety and Security Again!
Home Security Systems, dead-bolt locks and smoke detectors can bring discounts of up to 20% on your annual premium.
7. Annual Reviews Are Needed –
Each year you should review your policy to make sure it reflects the value of your home and all the belongings. Did you sell something? Did you purchase something that should be insured? Did you add a gameroom or garage?
Spend a little time each year to make sure you are appropriately insured. For more information contact helpinsure.com.