Helpful Tips To Save on Homeowners Insurance

home insurance fort myers With the cost of everything going up these days, we are all looking for ways to save some extra money. This requires, for many of us, cutting out some of those creature comforts we used to take for granted. While some of us have done away with our morning trip to the coffee shop, others are trying to carpool to work to save money at the gas pumps.

One way to save that is often overlooked is saving money on homeowner’s insurance premiums. This is a lot easier than one may think, but may require a little work on the part of the homeowner. There are savings that can be obtained by making a few minor adjustments in and around the house.

Save up to 25% by raising the deductible on the house

According to the Insurance Information Institute (III), anyone that can afford to raise their deductible to $1,000 from $500, may save as much as 25% on their annual premium. Homeowners insurance is not intended for small fix-it claims; therefore, the benefits of a lower deductible can be quickly dissolved by the higher rates that will be experienced after making such claims.

Save up to 15% when insuring the car and home together

Purchasing homeowners insurance and car insurance from the same insurance carrier could save up to 15% on both premiums.

Save up to 20% for additional safety features

By adding new security devices to a home, such as deadbolt locks, window locks, and fire and alarm systems, savings can be obtained. Insurance companies highly value the protection afforded by burglar alarms and fire alarms (especially those connected to monitoring agencies such as a local police and/or fire department).

Improvements to a home can mean huge savings

A new home’s electrical, heating, and plumbing systems, and overall structure for that matter are likely to be in better condition than those of an older home. Therefore their insurance rates are generally lower as the risk for a potential claim is mitigated. If making any home improvements these types of systems to an older home, make sure to update the homeowner’s insurance policy accordingly.

Eliminate coverage that isn’t needed

Ideally, a policy should cover any major purchases or additions to a home, but don’t spend money for coverage that isn’t needed. There may be appliances, electronics, and other formerly valuable possessions that have depreciated over time. When the time comes, it is probably smartest to compare the limits of the homeowner’s policy to the actual value of these possessions, on a yearly basis. An independent insurance advisor can review this with to determine what is best.

Categories: Insurance
This post was written by , posted on October 9, 2012 Tuesday at 10:24 pm

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