Property and Casualty Insurance is a tight market – it’s getting harder to get comprehensive homeowner policies and it’s becoming increasingly expensive. However, there are some steps that you can take today that can help you not only get a better rate or a policy discount, but will actually serve to better protect your home and your belongings from loss.

Whether you are a first time home buyer or you have owned your home for many years, you should definitely shop around and do your homework on the insurance companies who write homeowner’s policies in your area.

Discounts will vary by company and by the city, state or region you live in. Here are some of our recommendations:

  • Home security system
  • Smoke and carbon monoxide detectors
  • Fire extinguishers
  • Sprinkler system
  • Dead-bolt locks
  • Handrails for both interior exterior steps and stairs

Additionally, your deductible plays a role in your premium rate – if you raise your deductible by $1000, you can save nearly 25% on your annual policy. Additionally, many companies offer discounts if you place both your home and auto coverage with them or if you own more than one property.

Additional ways to save:

  • Senior discounts
  • Association or employer discounts
  • Electronic payments
  • Non-smoker

Don’t forget to stay on top of your credit scores – it has an impact on all of your insurance rates. Also, be sure to evaluate your home’s value and the contents that are insured every year – if you make changes you may need to increase or decrease the replacement value, which will impact your premium. Above all, take an active role in your insurance protection. Make sure you keep up with safety features, shop rates and keep up with both your credit and your inventory – you’ll save year to year and in the long run.

 

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