Because everything around us seems to increase in cost each year, finding ways to reduce your Home Insurance premiums are important in times of necessity. There are number of strategies from which, you can save good amount of money.
Tip #1: Contact An Independent Insurance Agency
This is my first recommendation because these agencies can shop with several different insurance carriers to find you the best deals. For example, Southern Insurance Group has access to over 25 of the top Homeowners Insurance companies in the state of Florida. This is important for obvious reasons as not all carriers offer the same pricing. In addition, you can make one call and have access to the top 80% of the insurance marketplace.
Keep in mind that carriers have different niches that they specialize in. Some have better rates for various characteristics such as age of home, acreage, age of roof, location to name a few. Upon running Home Insurance rates, we will see who will offer the most competitive rate based on the features plugged into the quoting engine. Our typical findings are some rates could vary thousands of dollars from the cheapest to the most expensive quote or carrier.
This is why it is so important to quote through an independent agency vs. a captive carrier who only writes through their one brand. More choices almost always equates to lower rates.
Tip #2: Determine What You Specifically Need Out Of Your Homeowners Insurance Policy
For instance, your home policy is a package policy that has certain built in coverage's. Most of the time you can lower or delete certain coverage's that don't apply to your particular home. Some of these could be other structures which covers detached structures. Or since most home policies come with 50% for contents coverage, if you don't have contents anywhere close to this 50% limit, we can lower the coverage down some so it is closer in line with your assets. Some companies have built in coverage for screened enclosure so if this doesn't apply, we can exclude screened enclosure coverage. These and other minor changes may help you reduce 10% off your premium.
Tip #3: Bundle Your Policies
Most of the Homeowners Insurance carriers that we represent offer package policy bundling discounts for home, flood, auto, life, and umbrella coverage. At Southern Insurance Group, we will not only find your best pricing but will also coordinate it with who can offer the best bundling discounts for adding other policies to your account. Wouldn't it be nice to call one office that handles all of your insurance instead of being spread out with multiple agencies?
Thank you for reading my blog and will continue to send you money saving tips in my next editions. For Insurance quotes.