Blaine Home Insurance

As the mortgage crisis endures, double digit unemployment, etc., many homeowners have had to make sacrifices to help make ends meet.  Whether it’s trying to get a few extra miles on our vehicles or putting off vacations and retirement, we’re all searching ways to save money. One of the easiest ways for homeowners to save is to analyze your home insurance needs and do a little comparison shopping to see if you can get a better deal elsewhere.

1. Raise Your Homeowners Deductible: Save up to 25%
The lowest hanging fruit for homeowners insurance savings may be to increase your deductible.

According to the Insurance Information Institute (III), if you can afford to raise your deductible from $500 to $1, 000, you may save as much as 25% on your annual premium. Remember, 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 you may experience after making such a claim. As homeowners insurance intended for major perils, consider raising your deductible and collect the savings in the cost of your premium.

2. Multi-line Policy Insurance Discounts: Save up to 15% Purchasing your homeowners insurance and your car insurance from the same insurance carrier could save you up to 15% on both premiums.

3. Additional Security and Safety: Save up to 20%
Have you added new security devices to your home in the last year; perhaps a deadbolt lock, window locks or even and an alarm system? Insurance companies highly value the protection afforded by fire sprinkler systems, burglar alarms, and fire alarms — especially those connected to monitoring agencies such as your local police and fire departments. Accordingly, some carriers will reduce home insurance premiums by as much as 20% if you install some of these features.

4. Discounts for Home Improvements
A new home’s electrical, heating and plumbing systems, and overall structure, are likely to be in better condition than those of an older home. Accordingly, their insurance rates are generally lower as the risk for a potential claim is mitigated. If you have made any home improvement in the past year, you should see if a new policy will reward you with policy discounts.

5. Eliminate Coverage You Don’t Need: Analyze Your Homeowners Limits
Ideally, you want your policy to cover any major purchases or additions to your home, but you shouldn’t spend money for coverage you don’t need. You may have jewelry, appliances, electronics and other valuable possessions that depreciate over time. Consequently, it‘s in your financial best interests to compare the limits of your homeowners policy to the actual value of your possessions at least once every year.

6.  Use an experienced local independent agent for the best leverage.  They will have access to many carriers and will represent the best ones for your area.  Experienced agents will know how to get the discounts and make sure you have the correct coverage.  They will have the best connections and be there for you if need an advocate.

Call me if you have any questions or if you would like additional information.

I help people lower their insurance costs, get better coverage, and show them how to receive hassle free low cost insurance for life.

Tim Peddycoart

763-390-4872