Ten Ways to Reduce Your Homeowners Insurance Premium

Package Your Homeowner’s and Auto Policies Together
Many insurance companies give 5-15% discounts for customers who purchase insurance with them for both their home and auto.

Raise Your Deductible
Raising your deductible to the highest possible price you could pay should a loss occur could save you up to 37%. The higher the risk you assume, the less you will pay on your premium. When choosing the best deductible for you, please always be sure you can afford to pay your deductible should the need arise.

Typical deductible and discounts are approximately:

$500 – Save up to 12%
$1,000 – Save up to 24%
$2,500 – Save up to 30%
$5,000 – Save up to 37%


Make Your Home Disaster Resistant
If you own an older home, keeping its heating, pluming, roofing and electrical systems up-to-date will reduce your risk of water or fire damage. Find out from your insurance agent the best possible ways to make your home more resistant to natural disasters.

Establish Good Credit
By establishing and maintaining good credit, you will qualify for better rates. Keeping limits on credit cards low and always paying bills on time will improve credit scores.

Stay With the Same Insurance Company
By maintaining insurance with the same company for several years could qualify you for a 5-10% discount for long-term policy holders, depending upon the company.

Verify You Have the Correct Coverage Annually
Depending upon the valuables you have in your home, such as expensive jewelry and high-end computers, you may have requested additional coverage for such items. Always verify your coverage’s yearly to be sure you are not paying extra for items you either do not still own, or items that are not as valuable as they once were. You may want to cancel or reduce the amount of coverage you have on these items.

Check Around For Best Rate
When getting insurance quotes, always look around for the best rate. Be advised that though some quotes may be lower than others; always verify they have the correct coverage’s you need. Some companies will give you low premiums, with low coverage’s. Were you to have a total loss on your home, you want to be completely sure you have enough to rebuild completely should you need to.

Pay Electronically
Many companies now charge a mailing fee of up to $5 when sending out a customer’s bill. By making payments electronically, you will save yourself this charge and any additional fees they might add to mail out.

Be Sure Not To Include Land When Determining Coverage Amount
When obtaining homeowners insurance, do not include the value of land when deciding how much insurance coverage you want or need. Land is not considered in the rebuilding cost coverage’s as it will not be at risk from theft, fires, or any additional coverage’s included in your homeowners policy.

Purchase a Security System
By purchasing a security system for your home you could receive discounts for protection against fire and theft. Though these systems are often not cheap, over a period of time they could save you money. Always speak with your insurance agent about recommended systems, and how much you would save on your premium before making any purchases.


For more information visit: I.I.I, Financial Planning, and Money Central.

Swimming Pool Safety Tips

Though swimming pools can be fun in the summer, each year about 260 children drown under the age of 5. Always keep a close watch on children even if they can swim. To protect your family always be sure to follow these tips:

• Install physical barriers around the pool to limit access to children.
• Fences and walls should be at least 4-feet high and installed completely around the pool.
• Gates should be self-enclosed and self-latching. The latch should be out of reach of small children.
• If your house forms one side of the barrier for the pool, doors leading from the house to the pool should be protected with alarms that sound when the doors are unexpectedly opened. Or use a power safety cover, a motor-powered barrier placed over the water area, to prevent access by young children.
• For above-ground pools, steps and ladders to the pool should be secured or removed when the pool is not in use.
• If a child is missing, always look in the pool first. Every second counts.
• Knowing how to swim does not mean a child will not drown. Never use floatation devices as a subsitute for supervision.
• Keep resuce equipment and a phone next to the pool
• Learn CPR

Pool & Spa Entrapment Dangers

• Never use a pool or spa with a missing or broken drain cover. Be sure a new and safe drain cover is in place. The new drain covers are usually domed-shaped instead of flat.
• Consider installing a Safety Vacuum Release System (SVRS), a device that will automatically shut off a pump if a blockage is detected.
• Have a professional regularly inspect you pool or spa for entrapment or entanglement hazards
• Plainly mark the location of the electrical cut-off switch for the pool or spa pump.
• If someone is entrapped against a drain, cut off the pump immediately, instead of trying to pull the person away from the drain and the person's body to break the seal.

For more information please visit www.cpsc.gov