Are you looking for ways to lower your hazard homeowners and dwelling insurance costs? Here are some tips to help you:
1. Check your wind credits: Having a new roof, adding a third nail from roof to walls in attic clips, and installing shutters can reduce your premium. To take advantage of these savings, be sure to update your wind mitigation report and supply your insurance company with a copy.
2. Review your personal property coverage: If you have excessive coverage for personal property, consider adjusting it. You may lower your content coverage and get only the amount of personal property you actually own in the house on a claim. Just make sure your contents are insured at replacement cost and not actual cash value.
3. Check your deductibles: Adjusting your wind or other than wind deductible can change your premium and lower it.
4. Look for endorsements: Check for endorsements like personal jewelry, personal injury, and an option to waive disputes in court but to use arbitration or remediation that is in the policy. Endorsements may lower your premiums.
For flood insurance, here are some tips to help you lower your costs:
1. Check your deductibles and personal content limit: Most banks allow a $10,000 deductible on flood insurance, and personal property or contents is optional coverage as far as the lender is concerned. Premiums can be extremely high.
2. Don't let government NFIP flood policies lapse: If your policies lapse, rewriting and re-quoting are on a different rating system and will result in extremely high premiums. Keeping these policies in place can also be beneficial when selling your home as the buyer can assume your NFIP policy and keep your rate.
At Rider Insurance | HUB International, we are dedicated to helping our clients find the right insurance coverage at a price that fits their budget and needs. If you have any questions or concerns about your insurance coverage, don't hesitate to reach out to us.
Risk & Insurance | Employee Benefits | Retirement & Private Wealth
Ready for tomorrow.
Jared Hartley
Rider Insurance/HUB International Limited
9180 Estero Park Commons Blvd, Ste 9
Estero, FL 33928
Office: 239-992-9711
Fax: 239-947-8076
