Why You"re Paying 30% Too Much on Your Homeowner Insurance Plan When You Don"t Need To
We are not going to talk about all the things you could be doing that lead to you paying 30% more, but we will start you on a trail, and it's up to you to follow it to the end and find out what you can do to pay less in premiums.
OK, here we go: 1.
If you have not gone "insurance shopping" in the last 2 or more years, it's likely that you're paying about 30% too much in homeowners insurance premiums.
This is because a lot has happen to economies recently, even at a local scale, and there was barely any industry left untouched.
Money was scarce, and homes were given up.
Insurance companies had to fight to get clients, and part of that was a price war.
You need to check what the current market rates are and compare to what you're paying - you could save 30%.
2.
If you haven't done repairs in your home recently and there are things that are falling apart, the insurance assessor who visited your home gave you a higher quote for your premiums than if you had been keeping your home in good shape.
When an assessor sees that things are falling apart, he knows that it won't be too long before you knock on their door for a claim.
His reaction is to offer you higher premiums so that when you do make a claim, he does not make a loss.
3.
Do you own a pit-bull, or any other pet that is considered a hazard? You are paying more in insurance than you should and possibly by up to 30%.
Why? Because these pets make your home higher risk than it would ordinarily be.
Get a friendly pet that's not a hazard and watch your premiums come down.
Similarly, if your car garage is located outside and not inside, you are automatically paying more.
Start making plans to move it in.
4.
If you have not installed an alarm system in your home, you are paying more in premiums than other people who have.
It works exactly the same way as car insurance.
An alarm reduces the probability of a break-in and the overall effect is more security and therefore less likelihood of making a claim against your policy.
5.
You are paying more on your homeowners insurance if you do not have all your policies under one insurance company.
You need to consolidate all your policies under one company and then approach them for a discount based on the value of all the policies that you hold with them.
You will be surprised at how much this can bring down your premiums.
Like we said, there is absolutely nothing to be gained by paying more.
On the other hand, the cheapest rates do not turn out to be the beat always.
Always compare premium rates against the benefits that the insurance company offers and then you'll know how good the deal that you're getting is.
If you are "guilty" of any of the above, start to rectify right away and save up to 30% - that's a lot!
OK, here we go: 1.
If you have not gone "insurance shopping" in the last 2 or more years, it's likely that you're paying about 30% too much in homeowners insurance premiums.
This is because a lot has happen to economies recently, even at a local scale, and there was barely any industry left untouched.
Money was scarce, and homes were given up.
Insurance companies had to fight to get clients, and part of that was a price war.
You need to check what the current market rates are and compare to what you're paying - you could save 30%.
2.
If you haven't done repairs in your home recently and there are things that are falling apart, the insurance assessor who visited your home gave you a higher quote for your premiums than if you had been keeping your home in good shape.
When an assessor sees that things are falling apart, he knows that it won't be too long before you knock on their door for a claim.
His reaction is to offer you higher premiums so that when you do make a claim, he does not make a loss.
3.
Do you own a pit-bull, or any other pet that is considered a hazard? You are paying more in insurance than you should and possibly by up to 30%.
Why? Because these pets make your home higher risk than it would ordinarily be.
Get a friendly pet that's not a hazard and watch your premiums come down.
Similarly, if your car garage is located outside and not inside, you are automatically paying more.
Start making plans to move it in.
4.
If you have not installed an alarm system in your home, you are paying more in premiums than other people who have.
It works exactly the same way as car insurance.
An alarm reduces the probability of a break-in and the overall effect is more security and therefore less likelihood of making a claim against your policy.
5.
You are paying more on your homeowners insurance if you do not have all your policies under one insurance company.
You need to consolidate all your policies under one company and then approach them for a discount based on the value of all the policies that you hold with them.
You will be surprised at how much this can bring down your premiums.
Like we said, there is absolutely nothing to be gained by paying more.
On the other hand, the cheapest rates do not turn out to be the beat always.
Always compare premium rates against the benefits that the insurance company offers and then you'll know how good the deal that you're getting is.
If you are "guilty" of any of the above, start to rectify right away and save up to 30% - that's a lot!
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