Tony Edel at The Houston-Taylor Group. Your Insurance Broker since 1999
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Home Ins Tips

Homeowner Insurance Tips To Save Money


Increase Your Deductible
Just like auto insurance, policies have deductibles, and the same rule of thumb applies--carry the highest deductible you can afford. The higher your deductible, the more premium credit you can expect to receive from your insurance company. Your savings could reach 25% or more by increasing the deductible from $100 to $1000.

Claims Filing Precautions
Comprehensive Loss Underwriting Exchange is a national database used by most insurers to track a homeowners claims. Claims on your home may cause increased rates, compared to a claim free home.

If you have a loss and are unsure of coverage, call you agent first. If your deductible is higher than the expected claim expense, then you should consult with your agent regarding the ramifications of filing a claim. Many times negligent or water related claims should not be filed unless they significantly exceed your policy deductible.

 If you have not had a claim under your policy during the past 3 - 5 consecutive years, you could receive up to a 15% discount, depending on the insurance company. Plus, most companies will discount your premium if your policy has been in force for 3 straight years.

 Call a licensed contractor to avoid any problems with warranty of work, or so called storm chasers. You can check on the licence status of a contractor by going to the Arizona Registrar of Contractors website .

Improve Your Home Security
Most insurance companies offer discounts for smoke detectors, burglar alarms, dead bolts, fire extinguishers, and Neighborhood Watch Areas. Homes with a fire and or burglar alarm system hooked up to a third-party monitoring company receive higher discounts than homes with local bell alarms.

Consolidate Policies
Insuring two or more vehicles with the same insurance company can save you 10 - 15% on your premiums. If you cover your homeowners insurance and auto insurance together, you can reduce your premiums by another 10 - 15%.

Construction Type
Before buying a home, consider its construction type, such as frame or concrete block and steel (CBS). A wood frame house typically costs more to insure than one built mostly of concrete.

Verify Distance To Fire Stations And Windstorm Areas
If you live in the country, you'll probably pay higher rates for your insurance than if you lived in town. Why? It’s because of the longer distance to your local fire station. If you live more than 5 miles from the nearest fire station, and more than 1,000 feet from a fire hydrant, you will most likely pay a higher premium.

 Before purchasing your home, you may want to get a quote for both and flood insurance. Insurance companies may not offer you windstorm or flood coverage, depending upon the area in which you live. If your home is in a hurricane prone area and your insurance company offers windstorm coverage, then installing approved hurricane shutters should result in a premium discount.

New And Renovated Home Discounts
A majority of insurance companies offer a discount for new homes, and you may qualify if your home was built in the last 10 - 15 years. Also, a recently renovated home costs less to insure, so find out when the last major electrical, roof,  heating and plumbing update was completed on the home. Many older homes do not have the plumbing or main sewer lines replaced and face high repair costs for example when they begin to leak. When buying a home ask specific questions as to what exactly was repaired or replaced.

Early Retiree Discounts
Some companies offer up to 15% to be qualified . Retirees or senior citizens are usually offered discounts because insurance companies believe they are home more often and are therefore better able to protect their home against fire and burglary.

Most insurance companies run a credit score for home insurance premium rating. Improving your credit via a credit repair agency, consulting with the consumer reporting agency, or an online agency offering you a peak at your credit may help you understand why your credit score is not higher. Most independent brokers have home insurance companies that do not run credit.

Flood Insurance
A flood is a general and temporary condition where two or more acres of normally dry land or two or more properties are inundated by water or mudflow. Many conditions can result in a flood: hurricanes, broken levees, outdated or clogged drainage systems and rapid accumulation of rainfall. Your home insurance, generally, does not cover it. Do I need flood insurance? Most do not. Specifically if your home is located in Zones B & X, or C & X, you do not need flood insurance per your mortgage company. Rates are set by FEMA- Federal Emergency Management Agency. So shopping flood insurance will not save you money. Other zones  will likely require flood insurance by your mortgage company. Arizona residents call at 602-443-3106 for a free no obligation quote.

After reviewing the foregoing savings tips, you may think that if you added up all your credits you could receive a 70 – 90% reduction in your premiums. Unfortunately, it doesn’t work that way. Certain safety or other measures you take may qualify you for being placed with the "preferred" company of a particular insurance group. This "preferred" company will be able to give you more premium credits than a standard company is able to.

Call me for a quote at 602-443-3106 Tony Edel

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