Seattle Home Insurance – How to Increase Your Savings

In these uncertain economic times, making sure you are getting the most for your money in terms of your homeowner’s policy is very important. Of course, you are interested in lowering your costs, but you also need to be sure that you are retaining the coverage that you require to protect your home and property.

Take the time to learn about whether you qualify for discounts, and how premium costs and coverage limits vary, depending on which insurance company you buy from. There are distinct advantages to comparison shopping when it comes to evaluating your Seattle home insurance.

It’s always a good idea to inform yourself of what’s out there in terms of home insurance, whether you are looking to buy your first home or have been a homeowner for a long period of time. You can find the carrier that offers the right type of coverage for you at a price you can afford.

Lowering the Cost of Your Seattle Home Insurance: 10 Steps to Follow

• Comparison Shop. Make sure you get all the information you can on a multitude of insurance companies. One of the best and most convenient ways to do this is to shop online. You can surf from site to site gathering information on policies from various companies, or you can do some one-stop-shopping at a website such as SeattleHomeInsuranceQuotes.org, where you are offered several quotes from leading insurance agencies simply by filling out one simple form. Another great source of information is family and friends. Ask them how pleased they are with their carrier and if they can recommend someone to you.
• The price of your policy should not be the only factor you are considering. You need an insurance company that will provide you with an affordable deal, excellent coverage, and a good reputation for assisting customers when help is needed. Yes, you may have to pay a little more to buy from a well-known carrier, but the reason you have insurance in the first place is that if something adverse were to happen, you need to be able to count on a company that can process your claim swiftly and fairly. Your comparison shopping will pay off as you learn more about what various companies have to offer and what incentives they can give you in terms of increasing your savings.
• Increase the Amount of Your Deductible. The term deductible refers to the sum of money you are required to pay after you have suffered a loss and before you insurer will begin to pick up the costs. A typical deductible is usually in the neighborhood of $250. Following is a list that shows how you might increase your savings as you increase your deductible.

• If your deductible is $500 – you could save as much as 12%
• If your deductible is $1,000 – you could save as much as 24%
• If your deductible is $2,500 – you could save as much as 30%
• If your deductible is $5,000 – you could save as much as 37%

These figures are not typical of every insurance agency or homeowner’s policy. The numbers will differ from carrier to carrier, yet another reason to comparison shop.

• Get a Discount by Buying More Than One Policy from Your Insurer. There are many companies that will offer discounts to customers who decide to purchase more that one policy from them. For example, you could get anywhere from a 5 to 15 percent discount on your premium by opting to buy both home and automobile insurance from the same insurer.
• The Age of Your Home Will Affect the Cost of Your Policy. If you own or are buying a new home, chances are the foundation, the structure of the building, and the electrical, heating and plumbing systems will be in better conditions than those found in a home that has some years on it. Some insurance companies will provide a discount of anywhere from 8 to 15 percent if you live in a newer home.
• The Land on Which Your Home Sits is Not Part of Its Value. The land on which your home is built is not subject to the risk that the home itself is subject to. Chances are it will not be destroyed by wind, fire, rain, or the other typical perils that are included as risks in your homeowner’s policy. Don’t make the mistake of including the value of the land when calculating how much coverage you need in your home insurance policy. If you do, you will end up paying more than you should.
• Increase the Safety of Your Home by Installing Security. Most insurers will offer discounts of 5% or more if you install such items as smoke detectors, sprinkler systems, fire extinguishers, an alarm system, or locks that are especially secure, such as dead bolts. Make sure you confer with your carrier before installing complex burglar alarm systems or sprinkler systems. You can often get a discount of 15 or 20 percent or more on your premiums if you do purchase those items, but some types of systems will not qualify for the discount – that will depend on your insurer.
• Don’t Smoke. More than 23,000 home fires are started each year by careless smoking. Many insurance companies offer discounts on premiums to homeowners who have non- smokers living in the home.
• Get a Discount If you are Over 55 and Retired. The logic here is that people who are retired spend more time at home and are at less of a risk of suffering a loss from fire or theft because they would be more likely to see and stop a fire since they are on the premises more often, and also, most home invasions take place when homeowners are out. Additionally, retirees are more likely to spend time and money caring for their homes, which reduces the risk of damage.
• Take an Annual Inventory of Your Policy Limits and Your Personal Property. Each year, take the time to weigh your coverage limits against the value of your personal property. If you have made large purchases or added value to your home through remodeling or additions during the year, you’ll need to add coverage. Conversely, if you have sold possessions or your home has become devalued, you might need less coverage.
• Private Insurance Could Save You Money. If you reside in a location that is at risk for hurricanes, wildfires, or is known as a high-crime area, you might want to look into private insurance. Ask around about obtaining an insurance plan on the private market that could save you money.

Don’t delay – find out just how much money you can save on your Seattle home insurance by getting your no-cost quotes today.