Homeowner’s insurance is important because it protects your home and its contents in the event of a disaster or theft, and for those looking to save on their policy costs there are some steps to take.
Laura Copet, an agent at Marshfield Insurance Agency, advises homeowners to review their home insurance at every renewal and every major update they do to their home.
“A home insurance rate can get lowered, depending on the carrier, for updating things like the roof of the home, updating the electrical, or by removing a solid fuel burner that was on the property,” she said. “Another common way to lower the premium is by raising the deductible. If you own a farm, decreasing the number of animals that you have can sometimes decrease your premium as well.”
Other tips Copet suggests is keeping up on repairs and maintenance issues so the home qualifies for the best possible rates.
“Insurer’s look for pride in ownership because people that take care of their properties generally file fewer claims, she said. “It is also important that people review their home insurance with their agent every year so they can make sure that they are getting all of the available discounts and to discuss any changes that might need to be made in coverage.”
She also advised checking with an agent before adding a dog to the household, installing a swimming pool, buying a trampoline, and installing a solid fuel burning unit as many companies have specific guidelines and restrictions when it comes to these types of things.
Reviewing an insurance policy is as simple as a phone call to an agent.
“Your agent will be go into depth on what coverages you have,” said Personal Lines Manager/Producer Brian Varsho. “A higher deductible and a claims free discount would be the two areas in which your home rate can be lowered.”
Reviewing a policy with an agent is the best way to determine if there are any savings potential, as there are many components to a policy and each one is different. They can also advise on potential lapses in coverage and work with a homeowner to provide protection in those areas.
“Most of the time ID theft protection
, water / sewer back-up
, and service line coverage
are overlooked and insured should check their policy to see if that coverage is active or it is something they need to add,” said Varsho. “Marshfield Insurance can help customers and non-customers with reviewing their current polices.”
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to learn more!