How can I negotiate a better price on my home owners Insurance?
Saturday, November 29th, 2008 at
9:03 pm
Dan93 asked:
How can I negotiate a better price on my home owners Insurance?
How can I negotiate a better price on my home owners Insurance?
They rasied my premium about $70, and I lost one months coverage because the agent listed the policy a month early, so now now the premium is now due earlier also. And I haven’t even paid the premium until a month later.
Anyways I keep getting the run around, they can lower it but they need $1000 deductible. I do not want the Auto tied into this, its under a different name. This raised the dwelling and personal property which is 70% of the value. I’m sure the real value went down this year.
Tagged with: Home Owners Insurance • Insurance • Personal Property
Filed under: Homeowners Insurance
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Shop around. Raise your deductible to lower your premium. Where you live will have bearing on your insurance.
Companies usually have grace periods so being behind in premium does not always mean that your policy has lapsed so you should verify that with the agent. Then have the agent check the policy to make sure that all discounts are being applied (multi policy discount, safe driver, claim free, in force, etc). If not, then the agent can request that they be added to your policy by underwriting.
If your agent is captive, meaning that he/she represents one company, I would suggest taking a copy of your policies to an independent agent. They would be able to “shop” your insurance with many different companies to get you the best deal. To find a local independent agent, just look for IIAB logo in the phonebook.
Hope this helps.
You can’t negotiate insurance premiums. This is a common misconception in the industry. If you feel that you are being charged too much. Shop around. Go to a few different insurance companies or to a broker who has access to several different companies. Once you find the best price, take it…and shop around every 3 years or so. Just because a company has the lowest rates for you now, doesnt mean they always will.