homeowners insurance And Auto Insurance Quote

November 22, 2011 by  
Filed under Property And Mortgage Insurance

Did you know that if you buy your auto insurance from the same company as your homeowners insurance, you could get a discount? Many companies offer what is called a multi- discount.

Here are a few other tips for saving money when buying homeowners insurance:

1.Shop, shop, shop: Always shop around. Different underwriting guidelines may cause one company to charge more for your homeowners insurance and/or auto policy where another company may be able to offer discounts. Get a couple of quotes and compare not only the premiums, but compare overages.

2.Deductibles: Rule of thumb, the higher the deductible, the lower the premium. Remember, however, the purpose of homeowners insurance is to make you whole in the event of an insured loss. Don’t raise your deductibles to the point where you’re spending more out of pocket than you can afford. If you currently have a $250 deductible and can live with a $500 deductible, then raise it accordingly. However, if you raise your deductible to $5,000 to save money on your premium and then suffer a loss, that first $5,000 comes out of your pocket. So, raise them only as far as you can afford.

3.Discounts : Ask for discounts. Some companies offer discounts to senior citizens which can amount to as much as 10%. Other companies offer discounts on auto policies to teens who maintain good grades (B or above). Your agent is aware of these discounts so always ask.

homeowners insurance4.Longevity: Once you find the right homeowners insurance company, stay with them. homeowners Insurance companies like loyalty and will offer discounts for remaining with them for several years. Three to five years with the same carrier may earn a 5% discount and six years or more as much as 10%.

5.Credit Score: As unfair as it sounds, your credit score is taken into consideration when determining your premium. Know your credit score and do whatever you can to improve it.

Also Read:
Disability Insurance
Cheapest Car Insurance
Cheap Car Insurance Quote
Health Insurance
Property Insurance.

Be Sociable, Share!

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!

You must be logged in to post a comment.