Want to Save Money On Your Insurance? Consider these three suggestions

By: Advocate Brokerage

Everyone wants to save money on their insurance policies. In today’s uncertain insurance climate, balancing rising rates and lower premiums may be more of a challenge than ever before.

We have three suggestions we want to share that might help to even out the scales a bit more.

Raise Your Deductible

If you are looking to save money on your insurance one of the things you can consider is taking a look at different deductible options. Ask yourself this question…

How much could you pay out of pocket to repair damage to your home or property without significantly affecting your lifestyle?

You can save money, and in certain cases, the amount saved could be considerable by making a simple adjustment to your insurance deductible. Simply choosing policies with higher deductibles will help you to lower your monthly premiums. When you consider the fact that you will not likely experience a loss every year, the savings in monthly premiums can add up quickly over time.

We can take a look at your current policy, review the various deduction options available and explore which policy would be the best fit for both your short-term and long-term financial goals.


Limit Your Claims

When a wind storm knocks down a tree in your back yard causing damage to your fence, your first thought might be to pick up the phone and file a claim with your homeowner’s insurance carrier. It makes sense to want to be compensated for any loss. The question is…

Does it make sense in the long run?

If you are looking for ways to save money on your homeowner’s insurance policy, limiting the number of claims you file is one thing to consider. Filing multiple, small claims can be a red flag for insurance companies. We have seen policies come up for renewal and be canceled because there are one too many claims on file. Instead, consider saving your claims for claims that are more severe in order to eliminate potential issues when your policy comes up for renewal. Paying to repair to have the fallen tree disposed of and for the repair of your fence out of your own pocket may leave you in a better position at renewal time.

If you suffer a loss small loss such as a tree falling in your yard and you are wondering if you should file a claim, please pick up the phone and give us a call! We can have a quick conversation and work together to determine if the incident is claim filing worthy, or if you would be better off covering the cost of the damage out of your own pocket.


Protect Your Home From Future Claims & Get Discounts

Chances are your insurance carrier will offer discounts for taking steps to prevent future claims. Ask yourself this question…

Are you doing all you can to protect your home from common reasons claims are filed?

If you are looking for ways to save money on your homeowner’s insurance policy, it makes sense to do all you can to add features to your home that protects you from losses in the future. There are several enhancements you can make to your home that will not only reduce your risks; they will give you the opportunity to reduce the cost of your policy with discounts. See below for a list:

  • Water Shut-Off Alarm
  • Water Sensors in laundry rooms, kitchens, bathrooms, and utility pans such as an AC condenser and dehumidifier
  • A Central Station Fire /Security Alarm
  • Interior Fire Suppression Sprinkler Systems
  • A Whole House Generator
  • Temperature Monitor Alarm System that sends you alerts when there is an extreme temperature fluctuation


While the impact of the credits may vary by state and amount, the credits you could receive for each one device ranges from between 2 to 10%.

If you are planning on making any home improvements, give us a call. We can have a quick conversation and help you to identify opportunities to make enhancements that can help you reduce your risk of claims while giving you the added bonus of credits towards your insurance policy.

If you have added any of the items listed above and have not yet had the opportunity to tell us about the change, give us a call! We would love to help you save money.

Our more than 50 years of experience comes with a collection of lessons learned from the claims we’ve walked through with our clients over the years. We believe in sharing those lessons with our clients and educating each client we serve. We encourage you to take advantage of our knowledge and ask questions, that’s what we are here for! Anytime you have a concern, please get in touch with us at 914-723-7100. We are here for you

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