In a recent article on 15 ways to save on homeowners insurance, it gives some great points on different ways to save you money. Furthermore, here are 10 of the ways you can save money on your homeowners policy:
1. Shop around: Check with several different insurance companies to get rate quotes.
2. Raise your deductible: The deductible is the amount of money you have to pay toward a loss before your insurance kicks in.
3. Buy your home and auto policies from the same company. Many companies will give a discount if you buy both homeowners and auto coverage from them.
4. Improve security and safety. Items such as deadbolt locks, burglar alarms and smoke detectors often bring discounts of 5% each, depending on the company. Your insurance company may also offer a significant discount of 15% or 20% if you install a sophisticated home-security system
5. Stop smoking. Smoking accidents account for more than 23,000 residential fires every year. Some insurers offer to reduce premiums if no one in the home smokes.
6. Try senior discounts. Insurance companies have found that retired people stay at home more and spot fires sooner than working people. Older people also have more time for maintaining their homes. If you’re at least 55 years old and retired, you might qualify for a discount of as much as 10%.
7. Ask about group coverage. Alumni and business associations often work out insurance deals with an insurance company, which includes a discount for association members.
8. Stay with an insurer. If you’ve kept your coverage with a company for several years, you may receive special consideration. Several insurers will reduce their premiums by 5% after you’ve been with them for three to five years, and some companies will discount you as much as 10% after six years.
9. Check your policy annually. You want your policy to reflect the value of your home and belongings. If you review your policy every year, you will be able to make the necessary adjustments.
10. Make payments electronically. Many companies now charge up to $5 for mailed payments, so have your payments automatically deducted to shave that cost.
For more information or questions contact a Kimberley Vassal Insurance Agent today at www.kimberleyvassal.com