Most major insurance companies have announced homeoners i
nsurance rate increases effective Sept. 1
The increases vary from 10-20% depending on the carrier. Rumor has it that Nationwide Insurance Company has announced a homeowners insurance rate increase of some 20%. They have also told agents they will discontinue writing mobile home and fire dwelling policies in North Carolina.
How can you save on your homeowners insurance premiums?
1. Make sure you have your howmeowners insurance auto insurance with the same carrier. That will entitle you to the multi-policy discounts.
2. Increase your deductible. You may want to consider a $1,000 deductible if you have $500 now. In any case you shouldn't have less than a $500 deductible on your homeowners insurance.
3. Be careful before you file a claim, Discuss the incident with your agent before actually filing a claim. Many companies even if you just talk to a claims adjuster will set up a claim and even if $0 is paid out this will look like a claim.
4. Your credit score will effect you homeowners insurance rate. Insurance rates are computed using information from your credit file. the better your score the better your rate.
For more information on how to make sure you have the best insurance protection including homeowners insurance go to our website.
Gary Sides, CIC, ARM
Marshall Insurance
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