Looking Out for You: Save Money on Your Insurance with These Tips

Homeowners insurance is, for many homeowners, simply a number on a piece of paper they receive from the mortgage company each month. Once you get out of the signing room after purchasing your home, you might not give much thought to your homeowner’s insurance policy, until, that is, you have to make a claim. What if we told you though that you could actually save money on your premiums and annual costs if you were willing to take a closer look at your coverage and do a little leg-work around your home?

Would you jump on board?

If you’re like the majority of homeowners here in the Winter Haven area, you’d answer with a resounding “Yes!” since the costs of insurance here in Florida tend to be a financial burden thanks to our weather and potential for severe storms (aka hurricanes) and flooding conditions. The fact of the matter is you can, in many cases, save money or receive rewards toward your account if you’re willing to look for some opportunities offered by your insurance provider. A few common things on this list of are:

• Security systems
• Privacy fences (with locking gates)
• Video doorbells
• Pool fencing and/or pool screens
• Modernized electrical and plumbing systems

These are just a handful of the small things that could save you money on your monthly premiums since they show that you are making an effort to protect your home from disasters such as fire, water damage, theft, or physical injury to another party, and therefore are less of a risk to the insurance company.

Another major tip when shopping for homeowners coverage: DON’T INSURE YOUR HOME FOR WHAT YOU PAID. That is unless, of course, you want excessive coverage. Many folks don’t necessarily want extra coverage though, they simply want to make sure they could afford to rebuild their home if it was lost in a catastrophic event. Keep in mind, the land your home sits on is not subject to issues like theft, fire, or water damage (unless you are on a flood plain, which means you need specialized coverage anyway) and therefore does not count toward the cost of rebuilding your home if something happened. Discuss the value of your actual house and possessions and make sure you’re not over-paying for insurance!

Do you need help but don’t know the lingo? That’s where an insurance advisor comes in. At Carroll Marshall Insurance, we work with you to make sure you have the coverage you need at the best possible rate. We shop around for you and then bundle various types of coverage to ensure that you have the best deal. Give us a call and make an appointment or stop by our office!