They have jurisdiction here.
Remember that local construction codes may have been upgraded substantially since your older home was built, especially in areas that are susceptible to tornadoes, hurricanes, or earthquakes. Ask for an endorsement to cover the extra rebuilding expense of meeting modern construction codes.
Look Ahead
Revamp your insurance before you remodel.
Before the sledgehammer comes down on your remodeling project, call your insurance agent. Ask how to cover the cost of construction in your policy, as well as any accidents that may happen on the job. If you've made improvements already, make sure that your home is currently "insured to value." Otherwise your policy won't cover the improved value of your home, i.e., new kitchen or bath, bedroom, sunroom, etc., if you ever make a claim. After your remodeling project's complete, invite your insurance agent to inspect the value of your project and upgrade your policy accordingly.
Are You Covered for Floods? Most aren�t!
Do you live in an area prone to floods or mud slides?
Special Condo Coverage Is it for you?
Condominium owners need to review two policies: their own and the master policy provided by the condo or coop association board. Make sure you're covered for anything that's NOT covered by the master policy. Sometimes unit owners can get a discount for getting a policy from the association's insurance company.
Enough on Insuring Your Home Here's how to SAVE big bucks on your policy�
Pick Up the Phone... & Pick Up Some Cash! Competition is Good
Play agencies against each other. Insurance is big business. There are plenty of insurance carriers competing for your attention. With a little research, you could find a cheaper carrier. By raising your deductible, exploring group coverage, or just changing your existing policy, you could easily knock a few hundred dollars off your annual premium. Few homeowners take advantage of these money-saving strategies.
Take a hard look at your insurance and cut your premiums.
Are You Paying the Wrong People?
Not everyone should be getting your hard-earned money. Before you give your existing company any more of your hard-earned money, call around and get the best rate. Try the yellow pages and get referrals from friends. Don't be bashful, provide your current rate and ask them how you could save money. Then get back to your current provider and ask if they're willing to match the quote.
Have You Thought About Discounts?
There are many ways to cut costs...here are some of the most popular. Slashing Your Bill Easy ways to reduce the premium.
It�s Cheaper in a CrowdGrab Group Coverage.
While you're shopping around, ask your employer about group insurance. Insurance companies love dealing with people in groups. It's cheaper that way, and it's easier to quantify risks. Explore group rates with your business professional association, alumni society, or other groups you belong to.
Cheaper Isn't Always Better
Look for quality and reputation. The cheapest policy won't guarantee good service. Check with the state insurance commission for any complaints against the company. Check the carrier's financial ratings on the Internet.
Discounts, Get Your Discounts
There are some for everyone! There are a number of discounts available if you look for them and ASK!
Pursue Package Pricing 5 to 15% Off.
Buy more than one type of policy from the same provider-home, automobile and liability umbrella, for example, and you can get a substantial discount, typically 5 to 15% off the normal rate for a single homeowners policy!
Drive Your Deductible Up, Premium Down 12 to 24% Off.
What's your current deductible? (That's the amount you contribute toward a loss before your insurance coverage kicks in.) Most people opt for a low deductible of $250. Here's the catch: the lower the deductible, the higher your annual premium. Time to change the equation! Simply boosting your deductible from $250 to $500 could save you 12 percent per year, raising it to $1,000 saves you 24 percent� you do the math! Balance the annual savings against possibly paying the higher deductible in the event of a claim.
We're not done saving yet�
Seek Senior Citizen Savings 10% Off.
Insurance companies think that people in their golden years are wiser and a better risk. Take advantage of it. Ask about senior citizen discounts.
Cash-In on Customer Credits 5 to 10% Off.
Some insurance companies know how to keep you happy, and loyal. They offer a 5% discount as an incentive for sticking with the same company for three years, or 10% for five years� especially if your claims record is relatively clean.
Pitfalls to avoid...next
Pay attention...you need to be careful!
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