Home owners insurance in Chester County is typically not that expensive, but with the economy being what it is, I know we are all looking for ways to save a couple bucks. I came across this article, which was given by the Insurance Information Institute and thought that home owner’s in Chester County would appreciate it.
1. Shop Around
Shopping around can save you a good sum of money. Ask your friends or contact your state insurance department. Also check consumer guides, insurance agetns and online insurance quote services.
2. Raise your deductible
The higher your deductible, the more money you can save on your premiums. If you can afford to raise your deductible to $1000, you may save as much as 25%.
3. Don’t confuse what you paid for your house with rebuilding costs.
The land under your house isn’t at risk from theft, windstorm, fire and other perils covered in your homeowners policy. So don’t include its value in deciding how much homeowners insurance to buy. If you do, you will pay a higher premium than you should.
4. Buy your home and auto policies from the same insurer.
Some companies will take 5 to 15% offer your premium if you buy two or more policies
5. Make your home more disaster resistant.
Find out from your insurance agent or company representative what steps you can take to make your home more resistant to wind storms and other natural disasters.
6. Improve your home security.
You can usually get discounts for a smoke detect her, burglar alarm, or dead bolt locks. Some companies offer to cut your premiums by as much as 15 or 20% if you install a sophisticated sprinkler system and a fire and burglar alarm rings at the police, fire, or other monitoring stations.
7. Seek out other discounts.
Companies offer several types of discounts. For example, if your at least 55 years old and retired you may qualify for a discount of up to 10% at some companies.
8. Maintain a good credit record.
Establishing a solid credit history can cut your insurance costs. Insurers are increasingly using credit information to price homeowners insurance policies. To protect your credit standing, pay your bills on time, don’t obtain more credit than you need and keep your credit balance is as low as possible. Check your credit record on a regular basis and have any errors corrected promptly.
9. Stay with the same insurer.
Some insurers were reduced premiums by 5% if you stay with them for 3 to 5 years and by 10% if you remain a policyholder for six years or more.
10. Periodically review your policy and insure wisely.
Review your policy limits and the value of your possessions at least once a year. you want your policy to cover any major purchases or additions to your home. But you don’t want to spend money for coverage you don’t need. Although you want to lower your homeowners insurance costs you don’t want to be underinsured either !
