Trappe, PA -- (ReleaseWire) -- 07/20/2021 --Purchasing the homeowner's insurance that is just right can be confusing, especially for first-time buyers. By learning the basics on how to get the most for the money, homeowners can save on homeowner's insurance and feel confident that they have adequate coverage. Kelly Insurance Agency and Travelers, a leading provider of homeowners and auto insurance, offer these tips to lead homeowners in the right direction when purchasing homeowner's insurance.
- Shop around. In addition to considering friends, family, the phone book, or the Internet as possible sources to find homeowners insurance, consult with an independent insurance agent. Look for a wide range of prices from several companies. Remember, the investment impacts the return, so look for not only a fair price but excellent service as well. Check a company's financial rating with A.M. Best or Standard & Poor's.
- Raise deductibles. Companies generally have deductibles (the amount paid before the insurance policy kicks in) starting at $250. By choosing a higher deductible ($500, $750, $1,000 or higher), it will lower annual premium payments.
- Consider how much insuring a new home will be. The age of the home may qualify some homeowners for savings because plumbing, heating, and electrical systems of newer homes have lower risks than outdated systems.
Construction of the home (brick versus wooden frame) can affect costs as well, depending on the home's location. Also, for residents that live nearer to the local fire department, the homeowner's rates might be lower than for those that are many miles away.
- Insure the home, not the land. Since homeowner's policies don't provide protection for the land, it would be a waste of money to include its value as part of the dwelling coverage, which should only reflect the price it would cost to repair or replace the home's structure.
- Insure cars and homes with the same company. Many people have saved money by combining different types of policies with the same insurance company. The better business given to the insurance company, the more valuable the customer.
- Improve home security and safety. If the home has certain types of fire alarms, burglar alarms, locks, or smoke detectors, there is a reduced risk that may qualify for a credit.
- Look for senior discounts. Insurance companies may offer discounts to homeowners that are at least 55 years old and retired. Retirees often spend more time at home and are more likely to spot trouble and prevent a loss.
- Look for group coverage. Many insurance companies offer discounts to groups such as alumni or business associations. Check with the association's director or employer to see if they offer a plan.
- Stay with one insurer. If someone keeps coverage under one insurer for several years, they may be offered a discount from the company. The longer someone is a customer, the more money that person will likely end up saving.
- Compare the limits in the policy to the value of the possessions at least once a year. If there are any new major purchases or additions, it is important to ensure they will be covered, but without spending more than is necessary.
About Kelly Insurance
Established in 1984, Kelly Insurance Group is an independent insurance agency offering a full range of insurance products including Auto, Home, Business, Life, Health, and over-65 Health. Kelly Insurance is a member of the Insurance Agents & Brokers, the Spring Ford, and Perkiomen Valley Chambers of Commerce and supports many local charities, schools, and youth organizations.
For information and quotes on insurance coverage, please visit Kelly Insurance at 212 W Main Street, Trappe, PA 19426, or call 610-489-9442.
The Travelers Companies, Inc. is a leading provider of property casualty insurance for auto, home, and business. The company's diverse business lines offer its global customers a wide range of coverage sold primarily through independent agents and brokers. A component of the Dow Jones Industrial Average, Travelers has operations in the U.S., Canada, U.K., and Ireland. For more information, visit www.travelers.com.