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Money Saving Tips
You may be able to save even more on your homeowners insurance by doing any of the following:
Put Your Home (or Renters) Insurance on the Same Policy as Your Car Insurance
Monitor Your Credit
Update Your Utilities
Install a Security System
Proximity to water:
Age Discounts
Increase your deductible.
Remember to contact your Stickler Insurance Agent before you take any of the above actions or after you make other changes to your home!
Put Your Home (or Renters) Insurance on the Same Policy as Your Car Insurance
Most carriers offer a multi-policy discount for having both car and home with the same company. This can save you up to 15% on BOTH policies. For example, if your car insurance costs $800/year and your home insurance is $400/year, by combining them the new premiums would be $680 for your car and $340 for your home. This would be a savings of $180/year!
Monitor Your Credit
Your credit score is the most significant factor that insurance companies use when calculating your premium. Not only will monitoring your credit prevent Identity Theft, it will also show you critical errors in your credit score, An increase of just 50 points could result in a savings of over 25% on your homeowner insurance.
Update Your Utilities
Most Homeowner claims result from older construction or faulty utilities. Roofs, furnaces and electrical should all be replaced or inspected every 25 years by licensed contractor. The newer the construction or updated utilities, the more competitive rate insurance companies will offer.
Install a Security System
A security system provides a deterrent to potential intruders in your home. As a result, your home will less likely be a target for would be robbers, and therefore the insurance company will offer you a discount. This discount often pays for the security system itself.
Proximity to water:
As our country continues to grow, new developments and increase populations place high demands on city and county water utilities. As a result of this growth local governments have been requiring and installing fire hydrants in new communities. Call your insurance agent if you live within 1000 feet of a fire hydrant, the farthest distance a fire hose can reach.
Age Discounts
They don’t call it the golden years for nothing! One often overlooked benefit of turning 50 or retirement is the discounts offered to you by Insurance Companies. Currently there is no technology for the companies to automatically apply this discount, so you must call your local agent to see if you’re eligible for any of these discounts.
Increase your deductible.
Increasing your deductible to $1000 or higher is the easiest and most efficient way to reduce your premium. While changing deductibles from $500 to $1000 wont save you $500 immediately, it will more than pay for itself over time. For example, if you save $100 by increasing your deductible from $500 to $1000, after 10 years without a claim you would have saved $1000, enough to pay for the entire deductible if you have a claim the 11hth year. Click here to request a higher deductible.
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