How to Reduce Your Property Insurance Premium

Review your policy coverage and limits

Compare your insurance coverage with the value of your personal property. Have you made any significant purchases in the previous year? Have you "down-sized"? Has the value of your property decreased? These are reasons to increase or decrease your insurance coverage. Some insurers automatically increase your policy limit each year to reflect inflation changes. Check to see if this is the case with your policy. It may not be necessary.

Keep an inventory

This doesn't have to be detailed or painful to do. Take a video or record digital images of your apartment or condominium - open drawers and closets and record all your personal possessions. Store the video or digital images away from your property. If you have a claim, you'll have proof of your possessions for us. Taking inventory is also a great way to help you estimate the value of your property.

Increase your deductible

How much money can you afford to spend -- suddenly and unexpectedly? Based on this amount, decide on your maximum deductible. A higher deductible will reduce your insurance premiums. If you have a claim, be prepared to pay your deductible.

Consider buying property and automobile coverage from the same company

We offer a discount on your policies. Say your automobile is broken into and your golf equipment is stolen. You'd normally pay two deductibles - one for your property and one for your automobile. If you have both policies with us, we may waive one of the deductibles.

Improve security

You can reduce your insurance rates by making your property more secure. Think about installing a smoke detector, carbon monoxide detector, burglar alarm, or dead-bolt locks. If you install a fire and burglar alarm that rings the police station or other monitoring facility, we will offer a discount. Before you spend too much on security measures, check with us to see what our qualifications are to receive a discount.

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