There are several ways by which you can look to trim some costs from your annual homeowner insurance budget without sacrificing valuable coverage. Many insurance companies are now offering new ways to accumulate discounts that will help to offset premium increases.
For starters, consider increasing your deductible. While you may be hesitant to increase your deductible from $500 to $1,000 or from $1,000 to $2,500, the accumulated overall savings that results from the deductible change may offset the increased out-of-pocket exposure in just a few years.
Some insurance companies offer discounts for enrolling in e-billing and/or e-policy delivery services, so be sure to take advantage of that if you aren’t already.
Finally, let us know if you have installed any of the following systems designed to protect homes against losses, as you may be eligible for additional discounts on your home insurance:
· Central station-monitored burglar and/or fire alarms
· 24-hour signal continuity on monitored alarms
· Temperature monitoring systems
· Water detection systems and/or automatic water shut-off systems
· Permanently installed back-up generators
· Explosive gas leak detection systems and/or automatic seismic shut-off gas line valve
· Lightning protection systems
Please contact your agent or account manager with any questions or to further discuss adding any applicable discounts to your homeowner insurance coverage.