Illinois Home Insurance - Tips For Saving Money
Saving on home insurance is something many home owners in Illinois would like to do, but may not know how.
Following are some tips to help you lower your homeowner insurance costs.
1) The typical home insurance policy provides coverage for your main home (dwelling), outlying structures such as sheds and fences, your personal possessions and personal liability.
It does not protect the land your home is sitting on, so make sure you don't include that value in your total coverage limits.
2) This is the big one: Insurance rates vary from company to company.
Just by spending a little bit of time shopping around, you could save hundreds of dollars.
First, you want to get at least three different quotes to compare.
There are easy ways to do this.
You can call insurance agents or companies in your area and request the quote.
Or, many people find it more convenient to get quotes from an online comparison site.
These sites allow you to fill out one quote request form, then provide several quotes from different companies based on that information.
3) Consider raising your deductible.
You could be paying a lot more for a $500 then with a $1,000 deductible.
Just make sure you are comfortable with your ability to come up with the deductible in the event of a loss.
One way to do this is to stick the extra money saved from lowering your premium into a savings account.
4) Take advantage of discounts.
Most home insurance companies in Illinois will reduce your premium for having safety upgrades such as smoke alarms, deadbolt locks, new electrical and plumbing systems and more.
You can also save by insuring your home and vehicles with the same company.
5) Once you've found a quote you like, make sure you deal with a financially stable company.
There are several rating companies that provide financial ratings for insurance companies, including A.
M.
Best, Weiss and Standard & Poor's.
You can look them up on the Web, or check with the Illinois Division of Insurance.
The Division of Insurance can also tell you if the company you choose is licensed in the state.
Following are some tips to help you lower your homeowner insurance costs.
1) The typical home insurance policy provides coverage for your main home (dwelling), outlying structures such as sheds and fences, your personal possessions and personal liability.
It does not protect the land your home is sitting on, so make sure you don't include that value in your total coverage limits.
2) This is the big one: Insurance rates vary from company to company.
Just by spending a little bit of time shopping around, you could save hundreds of dollars.
First, you want to get at least three different quotes to compare.
There are easy ways to do this.
You can call insurance agents or companies in your area and request the quote.
Or, many people find it more convenient to get quotes from an online comparison site.
These sites allow you to fill out one quote request form, then provide several quotes from different companies based on that information.
3) Consider raising your deductible.
You could be paying a lot more for a $500 then with a $1,000 deductible.
Just make sure you are comfortable with your ability to come up with the deductible in the event of a loss.
One way to do this is to stick the extra money saved from lowering your premium into a savings account.
4) Take advantage of discounts.
Most home insurance companies in Illinois will reduce your premium for having safety upgrades such as smoke alarms, deadbolt locks, new electrical and plumbing systems and more.
You can also save by insuring your home and vehicles with the same company.
5) Once you've found a quote you like, make sure you deal with a financially stable company.
There are several rating companies that provide financial ratings for insurance companies, including A.
M.
Best, Weiss and Standard & Poor's.
You can look them up on the Web, or check with the Illinois Division of Insurance.
The Division of Insurance can also tell you if the company you choose is licensed in the state.
Source...