3 Tips for the Best Homeowners Insurance Rates
Homeowners insurance can be rather expensive, and depending on where you live it can cost more in certain parts of the country than in others. Certain insurers will also not live up to the expectations you would have of them. This is especially true if the claim is a large one that requires more than $20,000 in reimbursements.
However, there are good insurance companies who will take care of the customer and ensure you get paid what you are owed when there are payments required. Shopping around is highly recommended and finding the best rates is easier said than done in many cases.
When shopping for insurance, here are three things you want to consider ensuring you are getting the best insurance for your home:
- Increase Your Deductibles: Most homeowners insurance policies require you to pay a $500 to $1500 deductible on your claim before you can reach out to your insurance for assistance with covering the costs of the damage done to your property. Increasing your deductible can help you pay less for the same amount of insurance each month. For example, if you have a $100,000 insurance plan on your home and you have a $1500 deductible, you will likely pay less per month than if it was a $500 deductible. Assuming you won’t have to use your homeowners insurance policy, this tactic can help you save money each month on your policy.
- Shop Around for the Best Deal: Homeowners insurance rates don’t vary as much as some car insurance rates and the industry isn’t as competitive. You can still save up to 9% by shopping around according to a survey done by Consumer Reports. That can add up to almost $1000 saved each year. If that’s worth it to you, shopping around for a reputable, yet cheaper insurance plan is highly recommended.
- Clump All of Your Insurance Policies with One Company: Another strategy that can often save you up to 30% on your insurance premiums is clumping your auto and homeowners’ insurances together. This is commonly known as bundling your policies. If you find a company you are satisfied with who provides reasonable rates and discounts, this may save you money and help ensure that you are paying the lowest rates possible.
These are great ways to save on your homeowners insurance while being sure you get the quality coverage you need. Skimping on the amount of home insurance you have is not the answer. Finding a company that provides affordable insurance plans with the coverage you are looking for is the best way to go.
For assistance in choosing quality homeowners insurance that is both affordable and provides the coverage that you need, please feel free to contact us at 203-723-8500 so that the Branco Insurance Group can further assist you. You can also fill out our form to get a free homeowners insurance quote in CT.