Having a homeowner’s insurance policy is necessary when owning a home, but why over pay when you don’t truly have to? Homeowners insurance premiums have risen over the past several years almost double to triple the amount it used to be. If you are looking to cut your costs but not your coverage, see how these 5 tips could help put some more “jingle” in your pocket.
Raise Your Homeowner’s Insurance Deductible: Your deductible is the amount of risk you agree to accept before the insurance company starts paying on a claim. If you have a low deductible of $50 or $100, consider raising your deductible to $500 or $1,000. Raising this limit could save you up to 25% on your premium.
Combine Your Homeowner’s Insurance and Auto Insurance Policies: Having a package policy can save you 5% to 15% if you buy two policies at one time. Shop around and make sure that the coupler price for your Home and Auto is lower than buying the two polices from two separate agencies.
Make Sure you are Receiving All The Discounts You Are Eligible For: Discounts such as smoke detectors, deadbolt locks, security and fire alarms and fire extinguishers in the home can offer you a discount. As well as if you are 55 or older and retired, you may qualify for a 10% discount.
Don’t Buy Homeowners Coverage You Don’t Need: It makes no sense to buy coverage to protect yourself against risks and situations that you may never encounter. For example, buying earthquake coverage when you live in a non-earthquake zone or buying a personal articles floater when you do not own expensive jewelry.
Completing Updates To Your Home: Your home is your biggest investment. Completing updates in your home such as, roofing, plumbing or heating can make you eligible for a discount.
Before you renew or even shop for a homeowner’s policy, it is important to ask questions and review your coverages to ensure that you are properly covered. Call C.H. Edwards, Inc . and find out some of the many ways that we can help you save. Our Customer Service Representatives are happy to assist you Monday-Friday from 8:30am-4:30pm. Give us a call at (516) 249-5200 or visit our website at www.chedwards.net for more information.
Written by: Amanda Haase