| Is there anything I can do to lower my premiums? |
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| Is there anything I can do to lower my premiums? |
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Because your premium is based partly on the level of risk the insurance company must take, there are things you can do to lower your premium. Installing deadbolt locks (to discourage theft), fire extinguishers, smoke alarms, and burglar and fire alarms that alert your local police and fire stations can often save you up to 15 percent on your premium. Check with your agent before purchasing any of these items to see if your insurance carrier has specific requirements to qualify for the discount.
Many insurers also offer discounts if you insure both your home and automobile with the same company. Another way to save may be to increase the deductible on your homeowners policy. If your deductible is $100, it means that you agree to pay this amount first, and your insurance company will pay for damages that exceed this deductible. By increasing your deductible from $100 to $250, or even $500, this decreases the insurance company's risk, which may mean a savings in your premium.
Also, it pays to shop around for insurance coverage just like anything
else. Of course, you may want to keep in mind that the extent of coverage
also determines the premium cost, so the cheapest policy is not necessarily
the best. Your insurance agent can help you evaluate the different policies
and companies to find the one most suitable for you.
| Association of Wyoming Insurance Agents | ||
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P.O. Box 799 Sundance, WY 82729-0799 Voice: (307) 283-2052 Fax (775) 796-3122 Email: awia@vcn.com |
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