Managing Homeowner Premium Costs

1. Insure your home adequately but don't overdo it. You want to be sure your homeowner insurance limits are sufficient to replace your home but it is not necessary to insure the value of your land. It is worthwhile to have your home's replacement cost checked from time to time.
2. Periodically check the value of any items you may have insured separately on a schedule. The market value of jewelry, art, collectibles and other items fluctuate up and down so, particularly if you have significant amounts of this type of property insured, you will want to take stock of their values at regular intervals.
3. Take the highest deductibles you think you can afford. There are two benefits: immediate credit for higher deductible and less likely increases or cancellations due to claim frequency.
4. Put as much of your insurance as possible with one insurance company. Most companies provide credits for multiple policies.
5. Explore all premium credits that might be available to you. Credits abound and vary by company, both in terms of availability and amount. Here is a quick list of some common credits that can save you money:

   Multiple Policy. As mentioned above, insurance companies will often provide premium credits when you have more than one type of insurance with them.

   Safety Device Credits

   Common safety devices like dead bolt locks, smoke detectors and fire extinguishers will earn you premium credit; more extensive safety devices like central station burglar and fire alarms will save even more.

   Mature Homeowner Credit

   Many companies will offer credits for retired homeowners who are generally at home during the day.

   Non-Smoker Credit

   Often, companies have credits available if all household occupants are non-smokers due to a reduced fire risk.

   Loss Free or Renewal Credits

   Insurance companies will often reward policyholders who have renewed with them over several years and have no losses with additional credits.

6. Your needs change and sometimes it is time to switch insurance companies. That's why we are here. We do our best to keep up with your insurance needs but, if you ever feel it is time for a change, let us know. As an independent agent we represent many insurance companies and will save you time and bother in reviewing options for you.

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