Money Saving Ideas for Homeowners Insurance With Ten Simple Steps

Having home insurance is required if you have a mortgage or are in a homeowners association. Or you may even think it’s necessary since your home may be the largest asset you ever purchase. It’s frustrating to think that your insurance money may be getting flushed down the toilet if it’s not set up correctly. You don’t need a plumber to solve this problem, you need an independent insurance agent like the Held Insurance Agency.

Here are a few simple ideas to help slow down the money flow:

1. Shop your insurance –  Get multiple quotes. The easiest way to do this is to work with an independent insurance agent like the Held Insurance Agency which has access to multiple insurance carriers. 
2. Bundle your insurance –  Look to have your home and auto insurance with the same carrier. If you don’t have a car, look at other policies you may have that could qualify.
3. Raise your deductible –  This will help lower your insurance premium. Make sure you have some funds set aside just in case. 
4. Keep up your credit –  Many insurance companies use credit to establish your rate. Having a better credit rating can help you save money.
5. Replacement Cost – Make sure your home and belongings are insured to replacement value. Don’t be over or under-insured.
6. Home Renovations – Make sure renovations have been completed and advise the insurance agent. Roof, electric, plumbing, and HVAC may be eligible for some discounts if they have been replaced recently.
7. Policy Type – Not all home policies are the same. Certain policy types cost more than others since the coverage may be different. Make sure the type is correct for your needs.
8. Avoid small claims – Use your insurance to protect you from financially devastating claims. Absorb the small ones. Claims can add surcharges to your policy, something you want to avoid.
9. Location, Location, Location – Living closer to developed areas tends to be less expensive than living off the grid.
10. Other discounts –  Take advantage of other discounts: alarm system, paid-in-full, occupational, and more. Insurance carriers are always adding new discounts. 

Contact the Held Insurance Agency to learn more. We work for you to make Insurance Simplified. Our office is located in Mount Prospect, Illinois 60056. Serving all of Illinois and Wisconsin. Call 847.264.4644