Many people aren’t even aware of the fact that they are paying more for their insurance than they should be. While it is vital to have homeowners insurance, you certainly don’t want to pay more for it than you need to. We all want to get the best value for the things we pay for. This should be especially true when it comes to your home insurance costs. In this article, Long Island Insurance Executive Gregg S. Marcus seeks to inform about the ways to save on your homeowners Insurance today.
Here is of 5 reasons that you re probably paying too much for your Homeowners Insurance.
#1 Low Deductible a higher deductible translates into a cheaper premium in the Insurance world. For example, if you raise your deductible from $250 to $1,000, you could slash your premium by 30 percent or more.
#2 Missed Discounts
Discounts can save you a fortune on home insurance. For instance, purchasing your home and auto insurance from the same insurance carrier could save you up to 15 percent on both premiums. Insurance companies offer discounts for, smoke –free homes, loyal customers (years you have been with an insurance company, discounts are given for senior homeowners and of course discounts are offered for our military families.
#3 Bad Credit Score
your credit score may be affecting your rates. Many homeowners with poor credit are charged higher home insurance rates. While you can’t fix your credit score in the blink of an eye, it may make sense to shop around and see if another insurance company considers credit less important than your current one.
#4 Lack of Safety and Security Features
Insurers love safe and secure homes, which is why they offer discounts for home safety and security devices. You could save 20 percent by investing in these home safety features such as, smoke alarms/fire-retardant roofing materials, deadbolt/window locks, Security systems (especially those monitored by outside services) and emergency sprinkler systems.
#5 Overpriced Insurers
shopping around for cheaper home insurance is the absolute best way to save money. Prices vary widely by company, and one insurer’s rate may be hundreds of dollars cheaper than another’s for the exact same coverage. If you don’t shop around for coverage at least once a year, you simply won’t know if you could be paying less.Contact Gregg S. Marcus today for a quote.