The higher the deductible – the deductible you agree to pay before insurance companies start losing money – reduce your premium, the more likely you will submit small claims, could lead to rate hikes or revoked. If you increase the deduction, for example, from $ 500 to $ 1,000, you can reduce by up to 25% of your bill, according to the Insurance Information Institute.
Many insurance companies are now implementing the deduction, rather than deduct a percentage of the dollar value. Sometimes deductible depends on the risk – a common example of this is hurricane-related losses, the insured value of the home or $ 100,000 policy of the first $ 2,000 2%. If your insurance company gives you a percentage or dollar value of selected deduction, make sure you understand what percentage is applied to your previous version acceptable percentage. (?? Dwelling percentage limit damage limit value plus the contents of my contractor or defined by the insurance adjuster housing)
I ask about any discounts you may be eligible – such as reducing the alarm or sprinkler systems, fire extinguishers, or impact or non-combustible roof. You may get a lower interest rate, if you are a veteran, your home is updated and in good repair, no unsafe condition, or you live in a retirement or gated communities. These discounts may be trimmed by a premium of 5% for each 10%. If you buy your homeowners and auto policies from the same insurance company, you could save 10% to 15% of the premium, but I this is a good idea to separate shopping policy, and if you can do better.