Would you like to save money on your home insurance? Did you know there are simple steps that you can take today to start saving on your home insurance. I am sharing tips in this series to help you save on your home insurance. Let’s dive right in with part 2 and get those savings started!

 

4. Location, Location, Location — The location of your home could have a huge impact on premium and acceptability.  Insurance company’s use a protection class scale from 1-10 with 1 being the most protected areas to 10 being the most unprotected areas.  The number is based on the distance to the nearest fire department and fire hydrant.  Here in Missouri you’ll find a range from 3 to 10.  Premiums can increase significantly as you move up the scale and some companies will not accept properties with a protection class as high as 10. 

5. Insure the House, Not the Land — Nobody is going to steal your land. Fire and high winds won’t “destroy” it. As such, when deciding how much homeowners coverage to have, don’t include the value of the land, only the value of the house and any other buildings on the property. If you include the value of the land, you’re paying too much. 

6. Don’t Insure What You Don’t Have — Each year, you should review your policy to see what coverage you have for your possessions. If you have made a major purchase, you will want to increase your limits of coverage, but what if you sell something or some things? You don’t need as much coverage. Pay particular attention to items that are covered by endorsements or “floaters” to your policy, items such as jewelry and computer equipment. 

You are possibly wondering if you could get any of these savings and the answer is probably yes with a quick phone call to your agent you can start saving today. If you are interested in getting a quote to make sure you have the very best coverage at the most competitive price just click the button below and we would be happy to get a quote started for you!

 

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