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Insurance Tips for Homeowners

Many consumers have faced rapidly escalating insurance premiums on their homeowners insurance during the last few years. In some cases, consumers have experienced difficulty in procuring insurance, particularly people with several claims. Many consumers believe that they are powerless when it comes to these situations. However, there are numerous steps that homeowners can take to reduce their premium (without sacrificing coverage) and to lessen the possibility of future losses. 

Saving Premium and Reducing Losses Tips

  1. Consider purchasing a monitored burglar alarm. Most insurers provide discounts to homeowners with these alarms, some as high as 20 percent. Burglars often pass by homes with prominent burglar alarm signs displayed, opting for homes without these signs. This makes it more difficult for burglars to fence or pawn your property.

  2. Replace washing machine hoses when they show signs of deterioration, because a burst hose can cause extensive damage. Inspect the hoses on a regular basis. In addition, turn off the washing machine water faucet when the appliance is not in use to prevent leaks.

  3. Maintain your roof in optimal condition. A roof inspection on a periodic basis can identify sections that need repair and thus prevent water losses. Roofing materials containing high wind resistance features should be considered in windstorm-prone areas. Some insurers provide discounts for these types of roofs.

  4. If you experience a water leak, make sure it is properly repaired and remediated, which can include the removal and replacement of building materials such as sheetrock.

  5. If you are considering buying a home, be aware that many insurance companies offer new home discounts. Some insurers offer the highest discounts (e.g., 20 percent) on brand new homes and gradually lower discounts for several years as the home ages.

  6. Train yourself on how a fire extinguisher works. Always keep a fire extinguisher in the garage as well as the kitchen and on each floor of your home. In addition, the furnace should be inspected each fall by a licensed professional.

  7. Install and maintain smoke alarms throughout the house. It is best if the alarms are interconnected, so that if one goes off, they all go off. Test the smoke alarm once a month. These detectors should be approved by Underwriters’ Laboratories (UL) or other recognized testing laboratories.

  8. Consider purchasing both your homeowners and personal auto coverage with the same insurer. Many insurers offer home/car discounts for multiline customers, with some discounts as high as 20 percent.

  9. Periodically check your credit rating. There may be cases in which an error has occurred which could negatively affect your rating. The credit bureau has procedures in place to remedy these situations.

Contact Southern Insurance Associates at 706.996.8788 or Info [at] SouthernInsuranceAssociates [dot] com for a review of your current insurance coverage or for options of new insurance. We look forward to hearing from you and how we can help! We insure in GA, TN, AL, & SC.