Saving money has never been so trendy. Long gone are the days of irresponsible spending, so why be irresponsible with your homeowners insurance? Taking a little bit of time to research your options might just help you save a little in the wallet and put more in the bank.

Here are four tips:

1. Shop around. Some insurance companies have been raising house insurance costs to recoup losses from the financial crisis. Others are competing for new customers by offering lower rates. By shopping around, people can find better deals on homeowners insurance.

2. Re-evaluate coverage amounts. Many policies have inflation protection provisions, which automatically increase coverage amounts. This was a good item in the years leading up to the crash, but today they should be looked at more closely.

3. Check personal credit reports. Homeowners insurance companies check credit history before figuring rates, similar to how lenders do. This is done to help them assess the risk of payment and likely individual responsibility. Check your credit report and make sure it’s accurate so you can get the best possible rate.

4. Small claims can become expensive. Homeowners should have the highest deductible they can comfortably afford and repair minor items out of pocket rather than filing a claim. Filing a claim for every broken window or leaky pipe can increase premiums by 10-15%.

 

Steve Myers, Broker
Lake Weir Realty
1 (352) 288-1494

Steve Myers is Lake Weir Florida’s Real Estate Expert. To view Lake Weir area listings, visit Lake Weir Realty.

 
Posted by Steve Myers on 11/09/2011 12:20 PM   Comments (1)   Insurance in the Home Improvement Channel   insurance, homeowner, tips, tricks, decrease costs  
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1 Comments on 4 Tips to Keeping Homeowners' Insurance Costs Down

NOV
09
2011
130,545 Points 4 Featured Posts

Steve, this is a very, very good Blog post and the tips are very helpful. I will be sharing with my office and clients. I like number one and number three.. Thank you for sharing!
12:26pm • #1


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Steve Myers

Ocala, FL

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Lake Weir Realty Inc

Address: 12909 SE Hwy 25 Suite #1, Ocklawaha, FL, 32179

Office Phone: (352) 288-1494

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