July 01, 2006
Save on Insurance Costs
There are some factors more than others that affect your insurance costs:
- Get a multi-policy discount by buying your home and auto policies from the same insurance provider.
- Save time and unnecessary worry when you file claims by maintaining a correct inventory of all your belongings and a file of photographs or a video recording of all the rooms in your house. Retain receipts for expensive purchases. Store this documentation outside your home; a safe deposit box is a good storage idea.
- Most basic homeowners’ policies do not cover jewelry or other valuables like art and antiques. You will have to buy an added endorsement with your policy.
- In case you renovate or build additions to your home, be sure to update your home insurance policy accordingly.
- If you are senior citizens, find out if you are eligible for any discounts.
- If you use your mortgage company to pay your homeowner’s insurance, once you pay off your mortgage, make sure that you inform your insurance company so that future premium bills are sent to you. If not, you will not be able to pay on time and your policy is likely to lapse.
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