(208) 322-3473 stan@hartleyonline.com

Homeowners Keeping Costs Down

Cost Tips

The cost of your homeowners insurance can vary markedly depending on such factors as the size, quality, and location of your home; the coverage you select; and the company who writes your insurance. With these factors in mind, consider implementing the following tips to keep your homeowner’s insurance costs down.

Shop around

Shopping your insurance may save you significant numbers of premium dollars. Why? because many companies specialize in specific types of homeowner’s coverage, and, therefore, offer lower premiums for those particular coverage than you would pay for the same coverage with a different company. Shopping your insurance gives you the opportunity to locate such companies.

As you shop, consider saving yourself both time and money by calling an independent agent, like those at Hartley Insurance, who can often obtain multiple insurance quotes for you from a variety of reputable companies, simultaneously.

Finally, keep in mind that there is a down side to shopping your insurance. Changing your insurance frequently may cost you the loyalty of your agent: like your time, your agent’s time is limited. So, he or she is most likely to devote his or her best efforts to loyal clients. In addition, changing insurance companies frequently will likely cause you to forfeit discounts and perks that many companies offer only to their long-term clients.

Increase your deductible

Increasing your deductibles from $250 to $500, or even $1000, can save you a substantial number of premium dollars. Additionally, paying smaller claims yourself allows you to earn or retain money-saving, claims-free discounts offered by many insurance companies.

Of course, higher deductibles also mean higher out-of-pocket expenses at claim time, too. So, consider whether or not you are financially positioned to absorb higher up front costs before raising your deductibles.

Consider the cost of insurance before you buy a home

Considering the increased premium cost associated with specific characteristics of a given home can save you significant numbers of premium dollars. Before you buy, for example, consider the increased insurance costs associated with homes that are older, in poor condition, or those located in rural areas, flood zones, or earthquake zones. Doing so will likely save you both money and frustration in the long run.

Seek other possible discounts

In seeking discounts ask your agent about those discounts available for installing security devices in your home or for updating an older home. Your agent is likely your best resource for identifying and securing applicable discounts.

In addition, keeping your home safe and in good repair will likely have a positive impact on your homeowner’s insurance costs.

Consult your agent

Your licensed agent is best equipped to advise you regarding your individual coverage needs and available discounts. So, we strongly recommend that you select a reputable and competent agent to advise you with regard to your insurance needs.

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