The housing market has taken a huge downturn and as a result, many of our home values have plummeted. As a result, many homeowners are also expecting their homeowner insurance polices to drop as well. Should you expect a decrease in your homeowner insurance policy?
Unfortunately the answer is no. While the resale value of homes has taken a nosedive, the cost to rebuild your home should it be destroyed in say a fire has not dropped. In fact, many in the building industry predict a spike in rebuilding costs due to a possible jump in inflation.
With that being said, there are things you can do to decrease what you pay currently on your homeowner policy. Here are 3 tips:
1) Check your policy deductible. The higher your deductible, the less you pay. If you are carrying say a $500 deductible on your home, you might want to consider increasing it to $1000 or higher. Pocket the savings for a rainy day.
2) Make sure you are taking advantage of any available multi-policy discounts. If you don’t have your automobiles insured with us, you could be missing out on significant savings!
3) If you have a home security or alarm system in place, make sure we know about it! Discounts are available for monitored alarm services.
You can reach us at 760-438-4442 or 951-461-0637 or by email.
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