In the Plymouth-area real-estate sector, not only are home prices rising (albeit at a slower pace than years prior). Home insurance premiums are also mushrooming for both new and existing homeowners.
If you received a steep renewal notice for your own homeowner’s coverage, call your existing insurance provider or agent first, recommends Motto Insurance in Plymouth. Be sure to mention how many years you’ve been with your current insurer, which might get you a loyalty discount. If you’re currently shopping for your next home, obtain estimates of how much you’ll pay to protect it.
Other ways to possibly reduce your premiums:
- Go for the bundle discount. If you haven’t already done so, bundle your auto and homeowners’ coverage with the same insurer.
- Consider raising your deductible—the amount you’ll pay out of pocket for a claim.
- Check your credit score and try to improve it, if needed. Inflation has caused many homeowners to carry balances on their credit cards, which lowers your Fico score. Many online sources check your score for free from all three major credit-score sources without you taking a temporary hit on your FICO score for performing a credit inquiry.
- Some employers have arranged staff discounts for insurance. Your membership in one or more professional organizations may also make you eligible.
- Improve your home’s security features and provide details to your insurance provider.
- Making your home more disaster-resistant may help you save.
To discuss the local and national real-estate market further, contact The Beth and Steve Team:
- Beth Davis (617-504-8499; Beth.Davis@kw.com) and
- Steve Feldman (617-417-3125); SteveF@kw.com.
