Most of us say "thanks" without thinking.
Ontario, CA (PRWEB) January 29, 2013
As insurance companies compete with each other to attract new customers, homeowners have many options to help save on homeowner’s insurance in the New Year. A few of the most well-known methods include installing smoke alarms and a home security system. Choosing to bundle auto and home policies is another tried and true method.
“There are easy steps you can take to reduce your homeowner’s insurance premium that are relatively inexpensive and provide real benefits to you. A home security system may cost a little money, but you’ll save it on insurance and have peace of mind,” says Frank N. Darras, America’s top insurance lawyer.
Other discounts that consumers can take advantage of are discounted rates for seniors, non-smokers, or being a member of an insurer’s partner organization. For example, some insurers offer discounts if you bank with a particular credit union.
“Ask your insurance carrier about these kinds of discounts and check back often for specials they may be having. An insurance company isn’t required to tell you about the promotions they are currently offering, but oftentimes it’s just a matter of asking. They want to keep you as a customer and are willing to give you a discount to keep your business,” says Darras.
Consumers should be careful, however, to not skimp on the coverage they are receiving or try and “earn” a discount on a policy by adhering to unrealistic conditions. If an insurance company discovers a homeowner isn’t meeting the underwriting requirements of a policy, they aren’t required to payout benefits. Recently, insurance carriers have been discovered to “check-in” on customers they think aren’t being completely truthful on their policies.
“Don’t lie or misrepresent your property or prior claims on your application or the insurance company will rescind your coverage. You may think you can meet strict conditions laid out in a policy, but it’s easy to overlook those requirements. Insurance companies will find out-after all, it’s their bottom line they’re looking out for,” says Darras.
Darras encourages consumers to review their policies regularly and to periodically check in with their agents about new discounts. However, Darras urges consumers to be cautious and know all of the fine print of those deals before signing anything. Getting a good deal with unreasonable restrictions isn’t worth the cost-savings in the long run.
“Deals come and go quickly. Be on the watch for them and regularly shop your insurance needs to various carriers to ensure you are getting the best policy. Smart shopping can lead to huge savings,” says Darras.
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