Ninerell Insurance Agency, Inc. (website: PAinsure.com)
A free insurance shopping service for Pennsylvania residents
1. Age of Home If you have a newer home, you may be eligible to pay lower premiums. Also, if you have recently renovated your home and updated
your heater, plumbing, wiring and roof, your insurer may now consider your homes age to be only as old as the most recent update on your home. Call
your agent for the details.
2. Blanket Endorsement for Jewelry Insuring jewelry can be expensive if you list each item individually on your policy. Consider a blanket
endorsement on your policy that will cover many items of jewelry up to a specified limit on the policy. Often there will be a specific limit per piece of
jewelry in addition to the total amount covered. For example, the policy may insure all jewelry in the home up to $10,000 but no more than $2500 for any
one piece of jewelry. Contact your agent for more details.
3. Claim-Free To be eligible for this discount you must be claim free for a period of time. Usually 3 or 5 years.
4. Credit Your credit plays a major role in determining what your final policy premium will be. Many insurers can no longer give you an accurate quote
for a policy until they actually check it out. Insurers used to look at things like your loss or claims history and a few other factors to determine your rate.
However, in recent years, insurers have added your credit as a major tool in evaluating what your final premium will be. Generally with these companies,
a good insurance score (or good credit score) means a more favorable rate. This practice has gone on in the banking industry for as long as most folks
can remember. The philosophy is that a group of risks with good credit in the same area will have fewer losses than a similar group in the same area with
bad credit. In today's insurance marketplace, good credit can mean lower policy premiums.
5. Dead Bolt Lock Do all exterior doors in your home have a dead bolt lock? If yes, you may qualify for this discount.
6. Dwelling Coverage Amount Review the dwelling coverage amount on your homeowners policy. You could be over-insured. Many insurers base this
amount of coverage on the purchase price of the home. If the home is completely destroyed and must be replaced, the land will still be there and the
insurer will be rebuilding from the ground up. The land value is often a big part of the purchase price of a home. Also, obtain the exterior square footage
of your home, and call your agent to have he or she assess the correct replacement cost of your home. The insurer often obtains the square footage from
you and if it is not accurate, your home could be over insured or even worse, underinsured. You want it to be just right. You bear the ultimate
responsibility for insuring your home to the proper amount. The dwelling coverage amount is the single most important area of your policy to review with
your agent. Call today.
7. Employee Discount If you are an employee of your insurer or of a company that has a special program with your insurer, you may qualify for a
discount or a discounted rating plan.
8. Fire Extinguisher Homes equipped with fire extinguishers afford the homeowner a great tool to help put out a small fire before the whole house
burns down. If you have one, you may be eligible for a discount.
9. Have Your Policy Re-Written by the same company Many insurance companies periodically develop different rating plans and premiums for the
same policies. If your policy was re-written with the exact same coverage in the new plan, your rate would likely be different in this newer rating plan. You
could pay more or less in the new rating plan. Also, most companies will charge an extra premium for a claim and will continue to charge you until the end
of the policy term. This could mean that you could pay significantly more than necessary if you had your policy re-written after the loss is over 3 to 5 years
old. Often, there may be some disadvantages to having your policy re-written so check with your agent.
10. Increase Your Deductible Many policies carry a standard $500 deductible , but you can request a higher deductible such as $750, $1000 or
higher and often save a substantial amount of money. By agreeing to be responsible for a bigger part of the total amount of the claim, the insurer will
reward you with a lower premium. For many, this is one of the best ways to save money over time. Call your agent for all of your options.
11. Jewelry in Vault If you insure jewelry on your policy and store it in a vault or safe deposit box when not in use, you may be eligible for a
significantly lower premium on those items listed on your policy.
12. Multiple Policies With the Same Company Many insurers will give you a multi-policy discount if you have more than one line of insurance with
them. Consider purchasing your auto, home and life insurance from the same insurer. This will generally also put you in a more favorable position with the
company from claims to underwriting.
13. Previous Insurer Many insurers will give you a discount if you are currently insured with specific insurer and switch to a new insurer. Some
insurers do this to try to induce clients to move their company.
14. Rate Territory Most insurers develop rating territories or areas to help determine what premiums to charge you. You would expect to pay more if
you live in a big city than if you live outside the city is an example of this. Check with your agent to make sure that you are being properly rated for the
territory that you live in. Often, many rating territories have more than one zip code and even though your policy shows the correct zip code, you could be
rated in the wrong county and paying the wrong premium! Call your agent today to explore this often over-looked option.
15. Retired Discount If you are a certain age (usually 55 or 65 years old & up) and are retired, many insurers will give you a discount on your policy.
Don't miss out on this one if you qualify, it can be a big one and you must call your agent to get credit for the discount.
16. Roof Type Depending on what type of roof you have, you may qualify for different types of policies from the insurer. For example, if you have a flat
roof on your home you may not qualify for the same type of policy as you would if the roof was pitched or an "A" shaped roof. Your roofing material could
also be considered as well.
17. Security System If you purchase a security system for your home, almost every insurer will give you a discount. If your home alarm system is
capable of notifying the police and/or the fire department directly should either be triggered, you will generally get a bigger discount for having both.
Having either will generally give you a discount as well.
18. Smoke Detector Homes equipped with smoke detectors save lives and almost all insurance companies will give you a discount if you have them.
215-874-0919 or 267-797-5464
Top ways to save money on homeowners insurance