We all want to save money, especially on our Connecticut home insurance. However, you must toe the line between getting a good rate without compromising on coverage. Below are some factors to keep in mind when looking to save money on your Connecticut home insurance policy.
Do your research. Work with your insurance agent to make sure you truly understand the coverage you have and what exactly is covered. You don’t want to find out you don’t have enough coverage in the middle of the claims process.
Home security and safety devices. If you recently upgraded your home’s safety, you could be in line for a discount. Emergency sprinkler systems, home security systems (especially those that contact outside monitoring agencies), deadbolts, smoke alarms, and window locks all can improve your safety and minimize risks.
Home improvement. Old houses are riskier and more expensive to insure. However, rather than overhauling your home, investing in modernized upgrades can mitigate fire hazard and safety risks and ease the cost to insure your home.
Multi-line policy discounts. Oftentimes, insurance companies will offer multi-line policy discounts if you purchase multiple coverages from the same company.
Review your coverage. Make sure to review your coverage yearly. Reassess your possessions, household items, etc. You may find you are paying too much, or not enough. It is essential that you make sure you have the coverage plan that works for your home.
Considering purchasing a Connecticut home? Check out our recent blog post, A New Homeowners Guide to Buying a Connecticut Home. Factor insurance costs in. If you are in the process of looking for a new home, make sure you take insurance costs into account. If you live in a high risk flood area, for example, you may pay more. If the structure is older, you could end up paying more. Wood structures work better in the West because they stand up to earthquakes; however brick homes are more suited on the East coast because they are wind-resistant. By talking to an insurance agent and discussing the coverages needed for a particular home, you can make sure you choose a home that fits into your budget.
At the Byrnes Agency, we can help you decipher the ins and outs of Connecticut home insurance policies. We work with some of the most respected carriers in the country and can provide you with comprehensive Connecticut homeowners insurance at competitive price. Contact us today for more information.
Source: Insurance Information Institute