Everywhere you look this year you see hard-working families fighting inflation, as the cost of goods has skyrocketed and making ends meet is becoming more of a challenge. We wanted to be sure to bring about a bit of holiday cheer since this is not the season to be constantly worried about breaking even regarding your bankbook and have devised some great tips on lowering your homeowners’ insurance policy. 

The Insurance Information Institute performs very specific data-driven forms of research, which ultimately provides resources for homeowners to assist them in the final decision about the policies they select. These savvy solutions can assist you when it comes to making sure that you don’t see sticker shock when you receive your home insurance premium bill every month!

Freeing Up Vital Reserves by Shopping Around:

While it may take some extra time to make sure that you are checking with as many different companies as possible, you will rest assured knowing that you checked as many sources as you could. Friends and family are always likely to be transparent about their experience with insurance companies, as well as the Missouri Department of insurance. This department provides excellent services in resolving questions and complaints and allocating unpaid insurance benefits wow alleviating discrimination.

Services that provide online insurance quotes can offer you the opportunity to browse comfortably at your own pace, and rating companies’ resources such as A.M. Best and Standard & Poors spend a good amount of time with trained research and development teams looking at demographics and consumer results. Sitting down with us here at the Alexander insurance agency of Saint Charles will provide you a variety of options and ideas to ultimately lower your costs.

Advance at the Game of Risk by Raising Your Deductible:

The deductible is the amount of money you need to pay out of pocket to cover a loss before the claim even begins to be paid. Your policy will clearly dictate these terms upon the first read, with a higher deductible meaning a lower premium cost. A $500 deductible is common but doubling that amount can provide for up to a 30& savings on your premiums. It can be difficult to think that more out-of-pocket saves you in the long run, but the principle does hold true. 

Closely Examine the Potential for Over-Coverage:

Your final home price and cost to rebuild are not the same, allowing for homeowners to pay too much unintentionally. The land beneath your structure is not at immediate risk from incidents such as fire and theft, and they are accidentally listed as blanketed under coverage from fire and theft. As market conditions continue to shift drastically, those hurrying to close a deal may overlook this crucial detail. 

The Positive Outcome From Bundling, (Much Like Clothing for Winter!)

It is a great idea to consider bundling your home and auto policies from the same provider. This can ultimately provide you the timely and useful savings of 5 to 15% on your premium. It is also so very convenient to just log in and pay everything at once or enjoy another potential discount for autopay. Having all of your insurance needs taken care of by the same entity is now making more sense than ever and offers top-tier convenience in your daily life.

Discounts for Extended and Enthusiastic Loyalty: 

Many providers will happily reduce their premiums by five percent if you stay with them for 3 to 5 years, and by 10% if you stay on board for 5 years or more. As you begin to enjoy this valuable perk, it is wise to periodically check with everyone around to assure that you are obtaining the best rate. As times have changed so drastically over the last two years, many providers have sat down and created much more attractive loyalty programs and discounts for those who value their services frequently. 

Heightening Claim Prevention by Adhering to Home Security:

Even though many unexpected issues arise due to inclement weather and other natural disasters, taking a close inventory of your home security system will be a great help. Many prominent insurance companies will be willing to offer you a discount once you are equipped with smoke detectors, deadbolt locks, burglar alarms, in other means of keeping you safe. We have spoken with homeowners that are a little apprehensive about the initial intrusion and setup process of a home security system, but are very happy with the peace of mind and protection it ultimately brings. 

When times get tight on the monthly budgeting end, even the most financially secure families are going to want to find ways to save wherever they can. Taking the steps to make sure you can have lowered premiums will assure that you’ll have money freed up for the other expenses that life doles out. As we are now situated in the holidays at the Alexander Insurance Agency and we know that every spare dollar counts, now is a great time to meet with us and decide which form of protection will feasibly help you best!