Auto and Home Insurance 101 for March 25th, 2015

By / Auto and Home Insurance 101 / Wednesday, 25 March 2015 04:00


Steve Bowman, Property & Casualty Insurance Broker

Your premium is based partly on level of risk the insurance company must take, so there are things you can do to lower your premium. Installing deadbolt locks, fire extinguishers, smoke, fire and burglar alarms that alert police and fire stations can save up to 15 percent on your premium. Another factor is access to water. The location of your home from nearest hydrant, as well as dependability and nearness to your local fire and police   effects your premium.   
Rural homes more than five miles from a  water supply are more at risk for severe damage from fire and lightning. 
Other factors are age and construction of your house.  Generally brick and stone homes are cheaper to insure than wood construction. Another way to save money may be to increase your deductible on your homeowners policy. If your deductible is $500, it means you pay this amount first, your insurance company will pay for damages that exceed this deductible. By increasing your deductible to $1000 or even $2500, this decreases the insurance company’s risk which may mean a savings in your premium. Keep in mind the extent of coverage also determines the premium cost.
It is important to shop and compare, to save, but always compare  apples to apples.
From the office of: Steve Bowman, Property & Casualty Insurance Broker, 106 K Ave. Kure Beach, NC 28449 : Phone 910-458-1164 : 800-542-2502 : Fax 910-458-7311
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