When purchasing a home or refinancing, the process can be so overwhelming, that looking for the right homeowners policy to protect you, your family, and your home, may get overlooked or neglected. myPOLICYspace.com is dedicated to help provide you with some knowledge to help you get the best policy for you, at the best possible price.
Below are some tips that myPOLICYspace.com recommends you follow in order to get the best policy at the best price.
- Shop Around
- Although shopping around may seem like a hassle, time can mean money, money that you can save! Ask around or search the web. Shopping around is one of the most effective ways to save money, don’t always go with your first quote. The lowest price is not always the best coverage; you want to make sure you’re receiving the best of both worlds. After all, what good is a cheap policy if it’s not capable of protecting you at a time of need?
While searching around research a few of the carriers you seem interested in. Look into the financial stabilities by looking at sites like A.M. Best (www.ambest.com), Standard & Poor’s (www.standardandpoors.com), and Fitch Ratings (www.fitchratings.com). Search the web or call a local agency. See how they can save you money, and get a sense for how they would assist you if a claim was to occur. Go to myPOLICYspace.com or call us at 800-99-MYPOLICY to get a quote from the carriers we have pre-selected. These carriers not only offer the best price, but the best customer service.
- Increase Your Deductible
- A deductible is the amount of money that one has to pay out of pocket before their insurance company will start to pay a claim. This is all according to the terms stated in your policy. The higher you make your deductible the more you will save on your premium. For example, if you are capable of raising your deductible to $1,000 you could save yourself as much as 25% on your premium.
- Package Your Policies
- Try packaging your auto, home and liability policies together. Keeping everything in one place can save you up to 15% on your premium. Not to mention, giving you less of a hassle by making one payment and having all of your information in one place.
- Customer Loyalty
- Keep a strong relationship with your current carrier. In doing this you may be eligible to receive certain discounts for your loyalty as a policy holder.
- Establish and Maintain Your Credit Score
- More and more insurance companies are increasingly using credit scores to price your insurance premiums. The higher your score the better your insurance rate will be, where as the lower your score the more you seem like a financial risk to a carrier.
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