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Spring cleaning? Don’t forget your insurance!

By May 25, 2010February 9th, 2022Insurance
With springtime here, you probably are thinking about spring cleaning and all those projects that were neglected during the cold winter months. But, have you given much thought to cleaning up your insurance policies?
 
According to a 2008 survey by Marshall & Swift/Boeckh, a company specializing in estimating construction costs, 64 percent of homes are undervalued; this means about two-out-of-three homes do not have sufficient insurance.  In fact, the survey found that, on average, homeowners have only enough coverage to rebuild 81 percent of their homes.  In the event of damage to the home, the results could be disastrous, both physically and financially.
 
This spring, think about reviewing your insurance policies and making sure you have coverage that fits your needs. Doing so might even result in lower premiums.
 Here are some suggestions for reducing your homeowners insurance premiums:
  • Consider raising your deductible. A higher deductible usually leads to lower premiums.
  • Make improvements. Adding smoke detectors and a security system can help lower premiums. Upgrading or replacing your current electrical and/or heating system can help lower premiums as well.
  • Don’t make unnecessary claims. Filing claims for minor damage or routine maintenance can lead to higher premiums.

Some tips on reducing auto insurance premiums:

  • Consider raising your deductible. Increasing the deductible on physical damage can lower the premium. Before raising the deductible, make sure you have enough money readily available to pay the higher deductible should something happen to your vehicle.
  • Examine the need for comprehensive and collision coverages. An older vehicle may not require comprehensive and collision coverage. Consider the age and value of your car and whether or not you can afford to fix it yourself if you have an accident.

Remember, as your professional independent insurance agent, we can help you evaluate your current coverage and make sure you are properly protected at the best possible price.

Give us a call today to see how you can save money on your homeowners and automobile insurance policies at 856-935-0845, or visit our website at www.hdyoung.com.

                                                                                                                             

Henry D Young Inc is a TrustedChoice® Insurance Agency.

The information in this article is meant as a guideline only. There is nothing in this article that alters the coverage or interpretation of any specific policy. Because some statements are generalizations, and because different companies’ policies contain slight differences, please refer to your specific policy. Call our office before making any judgements or decisions concerning your particular situation and coverage that may, or may not, apply.

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