John Philip Insurance

7 Ways To Save On Renters Insurance

admin — Wed, 21 Dec 2011 03:50:37 +0000

Renter’s insurance is already relatively inexpensive, but why not save more? Use the tips below to save money and improve your monthly budget cashflow.

Combine your renters insurance with your automotive policy – Straightforward and simple way to save.
Install a security system – most agents can give you a discount for being proactive in your safety.
Setup automatic payments
Pay your policy in full instead of monthly
Add deadbolts to your doors
Have good credit
Install a smoke alarm

6 Ways To Save On Homeowners Insurance

John Philip Insurance — Sat, 13 Aug 2011 10:48:46 +0000

Premiums on homeowners’ policies can cost thousands of dollars a year, but they don’t need to be so pricey. Insurers base their premiums on the square footage of the home, the estimated cost to rebuild it, neighborhood crime and the relative danger of natural disasters — almost all of which are constantly in flux. By reassessing your coverage and taking steps to lower your risk profile, you can keep hundreds of dollars in your wallet.

Maintain a healthy credit score
Inquire about discounts - Ask your insurance provider whether they offer a reduced rate for bundling policies, say, a homeowners and an auto policy.
Increase your deductible - Just a small increase in the amount you’re responsible for should disaster strike can pay off big in premium savings.
Disaster-proof your home - Simple safety improvements, such as buying a fire extinguisher or installing a smoke alarm or deadbolt lock can reap a discount of up to 5% with most insurers.
Monitor neighborhood changes - Alert your insurer to any changes in your neighborhood that could lead to a more favorable rating, and in turn, less expensive premiums.
Pay promptly - Insurers like to know your payments are a sure thing, especially in today’s economy, says Leiman. Signing up for automatic payments that are debited from your checking account can often land a discount.

When should I review my home insurance policy?

John Philip Insurance — Fri, 12 Aug 2011 23:04:50 +0000

The Insurance Information Institute recommends reviewing your home insurance policy twice a year. However, you should also review your policy whenever one of the following situations occur:

1. When the homeowners policy comes up for renewal. While it is tempting to pay the renewal bill immediately, this is a perfect time to review your homeowners policy and contact your insurance agent with any questions about your coverage or premium. Some examples may include:

Am I receiving any and all discounts available to me?
Should I begin to comparison shop with other providers?
Has my home insurance provider made any changes to my coverage?
Does my homeowners policy include separate deductibles for certain risks?
Can I raise my deductible to save money?
Have I adequately insured all of my personal possessions?
Do I need to increase coverage for liability or structural reasons?

2. When you make major purchases or alterations to the home. Building that new deck? Just purchased a big screen TV? Next step is to call your home insurance agent. Making new purchases or adding improvements to your house is usually a great time to look at your home insurance policy. A perfect example of a major improvement includes adding or expanding a room, such as a kitchen or bathroom.

Additionally, if you or a member of your family has received an expensive gift, such as artwork, a computer or even an engagement ring, talk to your agent about either increasing the amount of insurance you have for your personal possessions or purchasing a floater/endorsement for these items.

3. When you’ve made your house safer. Installed a fire or burglary system in your home? Call your home insurance agent immediately, as you may qualify for a new discount. Other examples include upgrading your heating, plumbing or electrical systems. Just let your home insurance agent know and see what they have to offer.