Voice of the Consumer: Colorado insurance rates
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That doesn't include the costly 2014 hail season. "What is driving home insurance premiums is the pattern of catastrophic claims, in particular hail," Walker said.
The study also ranks Colorado No. 1 in the same five-year period for the average cost per homeowner claim.
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One cost-saving measure is to increase your deductible. Walker said most consumers could save at least 20 percent on car and homeowner insurance if they raised their deductible.
For your car, check your vehicle's safety and security rating. Walker said many companies give discounts for vehicles with higher safety ratings and crash test results.
Vehicles with safety devices like anti-lock brakes, airbags, blind spot detection, and rearview cameras could bring a discount.
If your car is expensive to repair or a favorite among thieves, insurance will be more expensive. And if your ZIP code is considered crime central, that is factored into the amount. As for saving on homeowners insurance, factor in how far away you live from "quality fire protection." Premiums can rise by as much as 20 percent if your home isn't within 5 miles of a fire department.
Maintaining good credit is also important. Some companies look at how you handle your personal finances. You can't control Mother Nature, but you can be proactive. As we head into severe weather season, talk to your agent and go over coverage. If you want better rates, ask for them.
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