Many people make the mistake of coming to a decision under one set of circumstances and then sticking with it forever – regardless of whether situations change in later years. Take cable television, for example. The cable companies rely on customers never looking for better deals while rates continue to go up.
It can be like that with Texas homeowners insurance as well. Sure, there are reasons to stay with your current provider – some offer loyalty discounts for keeping your coverage with them. But that doesn’t mean you shouldn’t look into changing to a different carrier.
Your premiums increased
This is the reason most people start looking for greener pastures. However, make sure there isn’t a good reason you’re paying more for coverage. If you’ve filed a number of claims, your carrier likely will increase the amount you’ll pay for coverage. But keep in mind that every carrier will have access your claims history.
Still, if you’re paying more and you don’t know the reason why, it might be a good time to shop your coverage.
You want to bundle services
One of the best ways to save money on insurance is by bundling services with the same provider. For example, if you buy auto and home insurance from the same provider, you could save up to 20% on premiums.
That’s one of the most well-known price breaks. But did you know you also could save by adding boat or RV coverage from the same provider? Consider the various policies you have and whether there’s a provider that offers coverage for all.
You’ve made major renovations
If you’ve made major changes to your house, your premiums could be affected. Converting a patio to a sun room, for example, will add to the value of your home, so you’ll want to increase your dwelling coverage – the amount it would take to rebuild your house if it were destroyed by a covered peril.
However, keep in mind that some major renovations could qualify you for discounts or lower base insurance. For example, a new roof could result in lower premiums because providers believe it will stand up better to wind and hail.
You want more discounts
You’ve seen the commercials about home insurance discounts, and you wonder why you aren’t getting more of them. It’s a fair question. One possible answer: Different providers have different discounts, and discounts vary widely by states. Still, it’s worth checking out. Some common ones to ask about: deadbolt locks, monitored security systems, and households in which no one smokes.
You aren’t a tightwad, but you believe there could be a better deal. You could be right. Here’s why: Insurance carriers use different algorithms for arriving at their premiums. Another carrier could evaluate your situation and decide you pose less risk than your existing provider believes. That means the new carrier could offer lower premiums.
It’s important to make sure your coverage doesn’t suffer when you switch providers. Lower prices won’t seem like such a bargain if your new provider disappears when you need it. A licensed, independent agent who isn’t tied to one provider can help you evaluate multiple proposals to find the one that suits your needs.
Give ABC Insurance a call at 800-374-9227, for all of your homeowners insurance needs today!