home owners insurance shopping around?
Friday, July 24th, 2009 at
8:35 pm
carlyjj941 asked:
okay, i believe that my homes owners insurance is WAY out of line i want to shop around for a lower rate…. would i be dumb to fax out my existing policy ?? whats the best way to go about this ?
okay, i believe that my homes owners insurance is WAY out of line i want to shop around for a lower rate…. would i be dumb to fax out my existing policy ?? whats the best way to go about this ?
Tagged with: Home Owners Insurance • Insurance • Shopping
Filed under: Homeowners Insurance
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Fax out the coverage limits only so they can give you quotes on comparable coverage.
don’t fax out your policy. iF YOU DO, THAN THE COMPETITION WILL KNOW WHERE TO START THE BIDDING WAR, TOO GET YOUR BUSINESS. cALL geico ins. tHEY HAVE SPECIAL RATES, THAT YOU CAN PUT YOUR CARS UNDER, HOUSE BOAT, DENTURES, ANYTHING. tHE MORE YOU HAVE UNDER THERE UMBRELLA POLICY THE CHEAPER THE RATE IS GOING TO BE. GOOD LUCK
Contact an insurance broker, they will shop around for you.
By faxing out your excisting homeowners that shows the agent what you have. However, they pull credit & check for previous claims before they can give you a good quote. You are better off making calls & speaking to agents so you can answer questions. USAA (if you are eligible) is great- I think you have to be military though- also try to combine auto & home- big discounts for doing this. Take the time to do this- the rates can change by lots!! I work in mortgages & shop a lot for my customers best deals on homeowners.
Only tell them the specifics of your coverage, do not give them the amount you currently spend. Try to find mutual companies near your home. They generally give the best rates. You’ll be shocked how much cheaper a mutual company can be. I was spending over 500 a year and the mutual company quoted me 50.
Describe the coverages and deductibles you want and let them come to you with quotes. I have found USAA to be very low, and AAA close behind. Your mortgage lender probably offers coverage as well, couldn’t hurt to call them for a quote.
5 Ways to cut your premiums
Upgrading your homeowners coverage will probably result in higher premiums. So take advantage of the following cost-shaving suggestions.
Shop and then shop again. Prices vary from one company to another. Call insurers to compare prices, or check their Web sites. Your state insurance department may also list prices offered by major insurers.
Ask about discounts. Many companies will cut your rate by as much as 10 to 15 percent if you are over age 55. Some companies will also grant you discounts for smoke detectors, burglar alarms, or dead-bolt locks.
Reap rewards for loyalty. Some insurers cut premiums by 5 percent if you’ve been with them for three to five years. If you’ve stuck with the company for more than six years, you may be able to land a 10 percent discount.
Raise your deductible. Increasing your deductible from $500 to $1,000 should cut your premium by 25 percent.
Bundle your plans. If you use the same insurer for your homeowners and auto insurance coverage, you should be able to qualify for a discount of 5 to 15 percent on each of your policies