Home Insurance Savings Tips
1. Set higher deductibles to lower your premiums; just make sure you have enough cash to cover the larger deductible.
2. Most companies offer discounts for smoke detectors, burglar alarms, third-party alarm monitoring systems, dead bolts, fire extinguishers, and Neighborhood Watch programs.
3. Earn “multiple coverage” discounts by using one carrier for all insurance needs.
4. Premiums will be higher if the fire stations and fire hydrants are too far away.
5. Going without a claim for three to five years may warrant a discount. Most companies also reward longevity of service.
6. Some companies offer discounts to people who have paid off their mortgage.
7. Discounts may also apply if your home was built or rebuilt within the past 10-15 years.
8. Check out non-smoker, early retirement, and live-in-housekeeper discounts.
How to Collect: You are partly responsible for loss recovery. To prevent forfeiture of coverage and increase your ability to get a settlement: Notify carrier immediately after a loss. Make repairs to prevent further damage. List personal items damaged. Show an insurance rep the damage. Complete a statement explaining circumstances for the insurance company.