Home Insurance Green Hills, TN

Raise your deductible

A deductible is the amount of money that you are responsible for paying toward an insured loss. The higher your deductible, the more money you can save on your premium, so if you can pay above the minimum $500 or $1,000 deductible, for example, you may reduce the cost of your homeowners policy.

If you live in a disaster-prone area, your insurance policy may have a separate deductible for damage from major disasters, so be sure you take this into account when considering whether to raise your standard homeowners deductible.

Buy your home and auto policies from the same insurer

Many companies that sell homeowners insurance also sell auto insurance and umbrella liability policies. If you buy two or more insurance policies from the same provider, you may be able to reduce your premium. To be sure you’re getting the best price, make certain any combined price from one insurer is lower than buying the coverages separately from different companies.  Are you over the line in Bellevue?

Make your home more disaster resistant

If you live in a disaster prone area, you will have more insurance options to choose from if you take certain preparedness steps— for example, installing storm shutters and shatterproof glass or reinforcing your roof. Older homes can be retrofitted to make them better able to withstand earthquakes. Consider modernizing your heating, plumbing and electrical systems to reduce the risk of fire and water damage. These precautions may prevent excessive damage and the related work and stress involved in rebuilding.

Do not confuse what you paid for your house with rebuilding costs

Your homeowners policy is based on the cost to rebuild your home, not its real estate value. While your house may be at risk from theft, windstorm, fire, and the other perils, the land it sits on is not, so don’t include its value in deciding how much homeowners insurance to buy. If you do, you’ll pay a higher premium than you should.

Ask about discounts for home security devices

Most insurers provide discounts for security devices such as smoke detectors, burglar, and fire alarm systems or dead-bolt locks. As some of these measures aren’t cheap and not every system qualifies for a discount, consult your insurance professional for recommendations.

Seek out other discounts

Types and levels of discounts vary from company to company and state to state. Ask your insurance professional about discounts that are available to you—for example, if you’re 55 years old and retired, or you modernize your plumbing or electrical systems, you may be qualified for a price break.