Multi-Policy\/Combined Discounts:<\/h2>\n
Most insurance companies offer a Multi-Policy discount.\u00a0 These discounts could save you up to 10% on both your property and auto insurance premiums.\u00a0 If you are with separate companies for your home, auto, commercial, or farm policies, it may be time to quote the policies with the same company.<\/p>\n
A Combined Policy discount is also available with some insurance companies.\u00a0 A combined policy discount will make your home and auto policies become one policy.\u00a0 Usually Combined policies will come with perks or incentives.\u00a0 Perks range from disappearing deductibles to higher percentage discounts.\u00a0 Combined policies also usually carry hefty 15%-17.5% discounts.\u00a0 We feel this is reason enough to consider combining your policy if your insurance company offers it.<\/p>\n
Soft Credit Check:<\/h2>\n
Soft credit checks are still fairly new in the insurance industry.\u00a0 When you consider that the modern insurance industry dates back to the 17th<\/sup> century, anything in the last 5-10 years is very new.\u00a0 Not all insurance companies will offer a soft credit check, but if you are lucky enough to have a company that does, it could be well worth your time to call.\u00a0 Giving your insurance company permission to run a soft credit check will allow them to get your credit score.\u00a0 The majority of companies will not pull your full credit report, but just the credit score.\u00a0 Companies will consider someone with good credit as a good risk.\u00a0 They factor that if you have good credit you are more likely to fix things around your house before they become a problem.<\/p>\n Most people will know that if they raise their deductibles, it will lower their premiums.\u00a0 Some companies will offer the ability to change not just the deductible on your entire policy, but individual coverage deductibles on certain endorsements. \u00a0For example, you could raise your deductible on your sewer backup or overland water endorsement.\u00a0 With certain companies, a large chunk of your premium will be in your water damage coverages.\u00a0 If you feel you could pay a higher deductible if a certain insured peril happens, then it might be a way of saving money on your yearly premiums, while keeping the same coverages.<\/p>\n Every company offers different discounts, but they almost all offer a lot of possible discounts.\u00a0 Call your broker or agent to find out what discounts you could have on your policy.\u00a0 Discounts range from non-smoker<\/strong> discount to a discount for having a backup generator<\/strong>.\u00a0 One of the larger discounts that many companies offer is a mortgage free<\/strong> discount.\u00a0 If you have paid off your mortgage, make sure your insurance company has a release of interest from your financial institution so they can take your mortgage off your policy.\u00a0 The mortgage free discounts could save you up to 10%.\u00a0 If you have a centrally monitored alarm<\/strong> system<\/strong>, or even a septic tank<\/strong> you could be missing out on discounts.\u00a0 Don\u2019t leave discounts you qualify for stay on the table to the benefit of your insurance company.\u00a0 Call your broker today.<\/p>\n A lot of insurance companies are going to an individual rating system for their home insurance policies.\u00a0 This means that some companies are basing your premiums right down to the longitude and latitude location of your home.\u00a0 If your insurance policy shows your \u201crisk\u201d address with a PO Box or a Rural Route (RR 1) then it could be causing an issue with the rating on premium.\u00a0 Have your insurance broker confirm you are not being affected by this.<\/p>\n With insurance companies going to an individual rating system, it is critical that you inform your insurance broker\/agent about updates around your home.\u00a0 The year of your roof replacement to the year of your hot water tank could be a factor in the premium you pay.\u00a0 If you have switched from an oil heating system to a natural gas heating system then you might be paying a surcharge for something you no longer even have.<\/p>\n With companies narrowing down how they rate your policy it is a good idea to review your home with your broker\/agent.\u00a0 There could be cheaper premiums if they know you have an unfinished basement or even if you have an automatic sump pump.\u00a0 Keep your insurance broker\/agent up to date on home repairs and any major change in your home.\u00a0 Your premium could be greatly affected by wrong information on your file.<\/p>\n You may not realize that you are paying a financing fee on your insurance policy.\u00a0 If you are chunking your premium into payments or paying for your insurance monthly, then there is a great chance you are being charged up to 3% extra for financing.\u00a0 If you are in the financial situation where you are able to pay for the insurance premium in a onetime lump sum, it could be an opportunity to save some money.<\/p>\n Last but not least, if you have not been able to shave enough money off of your insurance policy with the tips above, then you could check other insurance markets.\u00a0 If you are lucky enough to have an insurance broker who handles more than one insurance company, you should ask them to check their other markets for you.\u00a0 It is always a good idea to keep a long running relationship with your insurance company, but it\u2019s not a good idea to pay a lot more for insurance then you should be.\u00a0 Your broker can take your policy to several different insurance companies to see what the best fit for you is.\u00a0 It doesn\u2019t hurt to make sure your company is still being competitive in their premiums.<\/p>\n No one likes to pay a lot of money on their insurance.\u00a0 It may even feel at times like you don\u2019t even need the insurance policy or that they are ripping you off.\u00a0 One thing to keep in mind is that they are insuring your highest priced assets for the worst case scenario.\u00a0 If your house were to burn down and the insurance company pays to remove the old house and rebuild your new home, they could be paying out hundreds of thousands of dollars to replace your home.\u00a0 They could not possibly make that money back on the couple of thousands of dollars your yearly premium is.\u00a0 When you look at the business risk in this light, it sometimes makes the premiums that you pay not seem that bad.\u00a0 With that in mind, we all still like to save money where we can.\u00a0 The points outlined above are a fantastic way of making sure you are getting the best premium\/coverage combination for your hard earned dollars.<\/p>\n Save money on home insurance<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" Let\u2019s face it, everything is more expensive now, and that includes your house insurance. Even your brokers and agents feel the pressure of higher insurance premiums. When making your budgets this year, consider these money saving tips on your policies. Multi-Policy\/Combined Discounts Soft Credit Check Higher Deductibles Home Updates Discounts (alarm, backup generator, non-smoker, etc) Correct 911 Address Home Details… Read more »<\/a><\/p>\n","protected":false},"author":1,"featured_media":137,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13,2,3,27],"tags":[117,118,56,55,113,114,87,116,54,115,57],"class_list":["post-134","post","type-post","status-publish","format-standard","has-post-thumbnail","placeholder-for-hentry","category-condominium-insurance","category-home-insurance","category-liability-insurance","category-tenants-insurance","tag-alarm","tag-combined-policy","tag-deductible","tag-discounts","tag-home-updates","tag-insurance-markets","tag-multi-policy","tag-non-smoker","tag-save-money","tag-septic-tank","tag-soft-credit"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/elliottinsuranceservices.com\/blog\/wp-json\/wp\/v2\/posts\/134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/elliottinsuranceservices.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/elliottinsuranceservices.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/elliottinsuranceservices.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/elliottinsuranceservices.com\/blog\/wp-json\/wp\/v2\/comments?post=134"}],"version-history":[{"count":0,"href":"https:\/\/elliottinsuranceservices.com\/blog\/wp-json\/wp\/v2\/posts\/134\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/elliottinsuranceservices.com\/blog\/wp-json\/wp\/v2\/media\/137"}],"wp:attachment":[{"href":"https:\/\/elliottinsuranceservices.com\/blog\/wp-json\/wp\/v2\/media?parent=134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/elliottinsuranceservices.com\/blog\/wp-json\/wp\/v2\/categories?post=134"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/elliottinsuranceservices.com\/blog\/wp-json\/wp\/v2\/tags?post=134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Higher Deductibles:<\/h2>\n
Discounts:<\/h2>\n
Correct 911 Addresses:<\/h2>\n
Home Details:<\/h2>\n
One Time Payment:<\/h2>\n
Look at Other Markets:<\/h2>\n
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