Why lowering your insurance coverage is not the best way to save money.
Reducing your home or auto coverage may expose you to financial liability issues. We consider insurance just that: investing now in order to avoid large payments in the future.
There are a few factors that could safely lower your home and auto policies. Together, we work with customers to determine if any adjustments can be made. Examples would be raising your deductibles, getting multi-policy discounts, taking defensive driving, getting good grade discounts and many other money saving ideas.
Customers may realize the biggest savings when they purchase both a homeowner’s policy and an auto insurance policy from us. By packaging your home and auto policies, you may get an additional credit of up to 20% on your home and a 20% credit on your auto. Many companies only write a 1% deductible on clause 1 of your homeowners. Clause 1 is for wind and hail damage. We represent companies that still write clause 1 deductibles for $250, $500 or $1,000.
We encourage you to review endorsements with our account managers to make sure you have all the endorsements you need and remove any you may not need. Remember, homes typically appreciate in value. You should evaluate your insurance policies every year to make sure that you have enough coverage and also to maximize any savings opportunities available to you.