Over the past several years, we’ve had our share of harsh winters, “hurricanes”, and hail storms. Because these events have really taken a toll on insurance companies in Pennsylvania, the price of homeowners insurance in PA has been on the rise. But that doesn’t mean you have to sit on your hands and watch your premiums go through the roof.
There are a number of things you can do to maximize the discounts you are getting on your insurance policy.
Maintain your flat roof – If you live in Philadelphia, or areas like Ridley, Aston, and other parts of Delaware County or Bucks County, there’s a solid chance you have a flat roof… and most homeowners insurance companies don’t like your flat roof (I know because I have one). Many insurance companies will flat-out refuse any home with a flat roof. For the insurance companies that will insure you with a flat roof, there are additional restrictions. They may turn down the insurance because the roof is older than 10 years or if you’ve had water damage in the past 5 years. Yearly maintenance of your roof and a record of resealing the roof every couple of years will go a long way in preventing losses. It also may give your agent the ability to push for some flexibility from an underwriter that might be on the fence about the account. The idea is to keep your home appealing to as many companies as possible to give yourself the best chance at a good price.
Keep your homeowners and auto insurance with the same company – Companies will give you up to a 20% discount for having both your homeowners insurance and auto insurance together. It’s very rare that I find a situation where it makes sense to separate a home and auto policy.
Carry a higher deductible – Homeowners insurance is not a maintenance policy. Whenever possible, you want to absorb the cost of a loss. Once you put in a homeowners claim, it can stay with you for up to 5 years. If you have 2 claims in that period, finding insurance is going to be very expensive. Because you aren’t putting in small claims, you should take advantage of the cost savings associated with a higher deductible.
Make sure your agent knows how secure your home is – You spend a decent amount of money every month to protect your home and family… make sure your agent knows it. There is a significant discount with most companies if you have central burglar and/or fire alarms in your house. So if you have ADT, AT&T, or any other security company monitoring your home, let your agent know… they won’t always ask. And if you are in a gated community, you’ll get an additional discount.
Association Discount – This is relatively new. It seems as if all new construction these days is townhome construction. Because the homeowners associations have professionals provide a lot of the maintenance and upkeep of your home, insurance companies see these homes as a safer bet. In the past couple years, some companies have started providing discounts for being part of a homeowners association… let your agent know if you are. Insurance for a townhouse in PA should be really cheap because much of the building can be protected by the master policy of your homeowners association.
You don’t need to sacrifice the quality of your homeowners insurance in order to save money. There are many other options. It’s important to talk to your agent and get his opinion about how to get you the best bang for your buck.
Call Risk Averse Insurance in Media, PA for a quote on your PA homeowners insurance and PA car insurance. We can also provide insurance for motorcycles, RVs, classic cars and any other “toys” you own.
Risk Averse Insurance is an insurance agency in Delaware County that specializes in providing high-quality insurance products at an affordable price.