Most of you already know that packaging your home and auto insurance is a popular way to save money on your insurance premiums. Did you know there are other ways to save on premiums? Here are a few tips that could potentially lower your premiums without reducing your coverage amount.
Improve Your Home Security Some insurance companies may offer a lower premium you have the following security devices in or around your home:
- Smoke detector;
- Alarm system that connects to the police, fire or other monitoring stations;
- Sprinkler system alarm;
- Backup generator; and
- Automatic water shut-off system.
You Can Increase Your Deductible As you probably know, a deductible is the portion of any covered loss that you pay before your insurance policy provides payment. Sometimes, you can lower the cost of your insurance when you increase your deductible. You start saving right away and pay the deductible amount only if you have a covered loss.
Package Insurance with Same Company If you package your home and auto coverage, you often receive extra savings on your home or rent premiums, and on your auto insurance premiums. For additional savings, you can package other insured items with your homeowner policy. This may include your boat, RV, rental properties or expensive jewelry.
Are You at Least 50 or Retired? If you are home more often than not, like many retired people, you stand a greater chance at catching a water leak or fire. You also have more time to focus on property maintenance. If you are at least 50 years old or retired, you may be eligible for a discount. Contact Lang Insurance to see if you qualify.
Note: For definite coverage phrasing, conditions and exclusions, refer to your insurance policy or contact Lang Insurance for more info.