Insurance News 5 Tips for Getting Good Insurance for your Home or Car

[Amy Shair, REMAX Real Estate]

Many people are receiving notices of increasing insurance premiums for their homeowners and auto insurance. You can get quality insurance at a reasonable rate if you know how to shop for insurance.

Not all companies are offering the same options so it is important to shop around to get the best combination of rate, coverage and customer service.

Here are 5 tips for getting insurance for your home or car:

Shop Coverage, Not Annual Premium - While saving money on the premium seems like the obvious choice, if you are underinsured and have a claim you will lose a lot of money. The replacement value of your home and how much you insure for your contents are important so if you have a major claim like a house fire, there is enough money to replace your personal items and furniture.

Increase Deductible - Your premium will decrease if you increase your deductible. Move from $500 to $1000 for example and save money.

Insure Your Home and Cars with Same Company - Most insurance companies want your business for both your home and your cars,boat, and motorcycle. So they will give you their lowest combined premium if you get their home/auto discount by using that company for both policies.

Review Insurance Annually - It is easy to get comfortable with your insurance when the premium doesn’t go up very much or if you do not file a claim for a couple of years. But asking your insurance agent for an annual review and comparing what you are paying for your coverage to other companies is a good way to save money. Most people do not read the fine print that comes in the mail which details coverage changes so people only act when they see the higher bill arrive.

Check With an Insurance Broker - Insurance brokers can check on the best coverage with a number of companies so you can easily compare the differences in coverage and premium to make an informed decision. A broker will educate you on what some of the differences are in the offerings of different companies.

Keep Your Credit Score High - Insurance is tied into your credit score as well as your driving history, and how many homeowners claims you have filed. Keeping a high credit score will help you get the lowest premium on your home and auto insurance.

Protect yourself by getting quality insurance and using a reputable and local contact for your insurance. A good insurance agent or broker will help guide you through the insurance process, which seems to be changing regularly.

How About You?  Do you find these insurance tips helpful as you investigate coverage and pricing for your insurance? Comment below and let me know your thoughts for connect with Amy Shair here.

[Pat Howlett]

Interesting that you share this at this time - Mickie and I are just now reviewing our Home Insurance policy to make sure it provides what we needed.

In truth when we purchased it we simply "needed" to get insurance with the purchase of the home (that you helped us with :) and that's not the best method or practice.

Featured!

[Rick Nipper]

Great post, Amy. Prior to my last renewal, I went over all my policies with my agent. The conclusion: My house was insured for too much. Some erroneous information coupled with the inflation factor applied each year had gotten out of control. The result was a reduction in unnecessary coverage and a lower premium. It was a helpful exercise. Credit scores are a big part of what determines the premium. It's also important to maintain your home. Insurance companies aren't interested in insuring properties that aren't being taken care of.

[Amy Shair, REMAX Real Estate]

Thanks Pat for featuring, I agree it is good to review your homeowners policy each renewal. @Rick, you are absolutely correct about credit scores. Thanks for commenting.

[Yoga w/ Olga]

Amy, You hit all the important points. My Dad was a State Farm Insurance Agent; so I grew up hearing this stuff! Great Job!