1. Insurance Credits
Many homeowners don’t realize that there are numerous credits available to them which can result in sizeable savings. Credits related to Fire and Burglar Alarms, Being A Non-Smoker, Loss Free Credit, Security Cameras, New Home Discounts, Combination Discounts (Bundling Home and Auto), Generator ownership, and Freeze Alarms, are potential areas for savings, and your agent should be asking if any of these credits apply to you.
2. Annual Insurance Review
When was the last time you had your agent review your insurance policy with you? If your answer is, “Huh?” or “I don’t know,” this is bad. An annual review helps to ensure your home is valued correctly and minimizes the risk of overpaying for coverage you might not need. Additionally, these yearly reviews are times when you and your agent can discuss the size of your deductible to compare the difference between, for example, a $1,000 or $2,000 deductible; you will be surprised at how much small adjustments like this might save you.
3. Insurance Carrier
Several factors determine the price of a premium for home insurance: replacement cost, square footage, location, construction type, etc. Your agent must compare multiple carrier options for you to find the company best suited for your home, rather than just take an impersonal one-size-fits-all approach. Carriers have different advantages in terms of competitive premiums, such as for homes over $500k, homes under $500k, coastal, inner city, built before 1900, etc. Townsend Energy and Insurance finds the “sweet spot” by comparing the numerous carriers we work with to offer our customers the most competitive premium available.
To discuss the above and more to determine how you can save money on your homeowner’s insurance, sign up for a Personalized Free, No Commitment Insurance Review.