Pennsylvania Insurance Department: An Annual Insurance Review Could Put Money Back in Your Pocket

HARRISBURG, Pa., Jan. 16, 2014 /PRNewswire-USNewswire/ -- A lot can happen in 12 months, and changes from last year such as remodeling your home, purchasing a new car, or a birth or death in the household, could affect your insurance premium.

The Pennsylvania Insurance Department is encouraging consumers to take a look at their insurance policies and offering some simple tips for consumers to save money and possibly get better coverage on their insurance policies:

• Lower your premium. You may be able to reduce your overall premium if your homeowners' and auto insurance policies are purchased from the same company. Consider increasing your deductibles if you're financially able to do so or switching to limited tort instead of full tort for your auto insurance. 
• Proactively look for discounts. Check with your health insurance company to see if they offer discounts to join local or national health clubs. Also, your auto insurance company may offer discounts for things like taking a defensive driving course, claim-free driving or good student discounts for your driving-age children.
• Inventory your personal property.  Do you have a list of everything you own? Providing information to your insurance company about any personal property that is lost, stolen or damaged is required if you file a claim. Take video, pictures, write a list, and keep it all in a safe place. Or, download and use the free "MyHOME Scr.APP.book" app for your smartphone.
• Know your policy and ask questions. Your insurance policy is a contract that details what is and is not covered. If you don't understand something, ask. Filing a claim is not the time to find out you are not covered for your claim.
• Research and compare. There's nothing wrong with doing a little comparison shopping. Try to get quotes from three different insurance companies, and be sure you are doing an "apples to apples" comparison on the policies.

For more information on your insurance coverage and options, visit www.insurance.pa.gov or call the department's toll-free, automated consumer hotline at 877-881-6388, or the Bureau of Consumer Services at 717-787-2317.

CONTACT: Rosanne Placey or Melissa Fox, 717-787-3289

SOURCE Pennsylvania Insurance Department