1.  Raise your deductible.  Covering smaller losses could mean substantial savings on your homeowners insurance premium.  Hiking your deductible from the standard $250 to $500 can save you 12%.  A $1,000 deductible can save you up to 24%, $2,500 can mean a saving of up to 30% and a $5,000 deductible can mean a savings of 37%.  If you raise your deductible, bank some of the premium savings so that you'll have the money for minor home repairs.

2.  Buy all insurance policies from the same company in order to receive a multiple policy discount.

3.  Review your policy annually.  Correct and/or update the information.  Double-check the information regarding how far your home is from a water source such as a fire hydrant, as well as the location of the nearest fire station.  If you carry an insurance endorsement on an item that's depreciated, reduce or eliminate the endorsement that covers it.

4.  Avoid filing frivolous claims.  Submitting a legititmate claim after years of paying premiums is justifiable, but frequent claims may mark you as a high risk.  Consider personally paying for smaller losses to avoid related premium surcharges or even the chance of nonrenewal.

5.  Although there are more cases of under-insuring rather than over-insuring, make sure your land is not included in the amount of insurance coverage you buy.  Land is part of your home's market value but does not need to be insured.

6.  Stay with your insurer.  Some insurers reduce premiums by 5% after three to five years, up to 10% if you remain a policyholder longer.

7.  Keep tabs on your credit.  An Insurance Bureau Score (IBS) is a snapshot of your risk picture based on information in your credit report.  Some companies take insurance scores into account when assessing a potential homeowners insurance risk.  IBS reflects your credit patterns over time, with more emphasis on recent information.

8.  Ask about available discounts.  Some companies provide discounts typically in the 8-15% range for new construction, since newer homes are built to updated codes and standards.  Some insurers offer discounts for monitored home security systems.  As previously noted, if you had your home insured with the same company or agency for several years, you may also be eligible for an additional premium discount.

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Please remember . . .

Brown Ohio Insurance Agency will do everything possible to meet personally with you to discuss your insurance needs.

By meeting our clients in person, our clients feel comfortable with their insurance needs and our clients feel they are getting great insurance at a great price!