Homeowner’s insurance is an absolute must but for many the process of finding the right coverage and the right agency is difficult and overwhelming. There are some tips and tricks you can use however to find the right coverage and insurance company for you and for you home and family. Knowing how to get the best deal on your homeowner’s insurance in Kentucky is just one way you can save money without scrimping on coverage.
Is There Need to Rush?
There is no limit to the number of times that a homeowner has been pressured or rushed into taking coverage from a company they are not 100% sure about. There are a great number of insurance companies that offer homeowner’s insurance and it is important to take your time and get quotes and references from a large list of them. This will help insure you are getting the best deal every time. Some popular homeowner’s insurance companies in Kentucky are Amica, Allstate, State Farm, Traveler’s, and MetLife. Kentucky also has their own insurance company, Kentucky Farm Bureau that offers competitive rates. You should get quotes from at least five different companies to make sure you are getting an accurate picture of the market and a fair chance at the best and lowest rates for your particular situation.
What is Your Policy and Coverage? another factor that often leads people to pay far more for their insurance than necessary is their coverage and particular policy. It is crucial that you take the time to either do your research or talk with an agent to find out what the minimum coverage for your home is, what types of alternative or additional coverage like flood or fire insurance you may need, or what type of policy is going to work for your budget and your individual needs. Each state and each lender has a different level of coverage that is needed to help recover after a disaster and knowing what type of coverage you have already and need is the first step to cheaper rates. Companies like Kentucky Farm Bureau, State Farm and more will all talk with potential policy holders and current policy holders to adjust the level, policy, and type of coverage you have to fit your needs. In a place like Kentucky for instance hurricane insurance is not necessary but fire insurance may be a good thing to have on hand.
What Are Things that Raise Rates?
Did you know that having a home security system can help lower your homeowner’s insurance rates? Did you also know that not smoking, not having aggressive dog breeds, and forgoing things like a pool or hot tub can also lower costs? Most people are not aware that things like a swimming pool or a pit bull can help push up rates. The whole point of a homeowner’s policy is to protect the homeowner, the lending agency, and anyone that comes to the home. In cases of things like dogs and pools, not having these things can lower your rate because it lowers the chance that someone is going to come to your home and get injured thus needing to file a claim with your homeowner’s policy. These are referred to as risk factors and the more that you have the higher your insurance premiums are going to be each month. Since Kentucky is a moderate climate state you may not have as many outdoor factors that raise risk since winter is so cold.
What Factors to Lower Rates?
There are just as many factors that help to reduce your rates as well. Adding a security system, not being a smoker, having more than one policy with the company, and insuring valuables on another policy can all help to lower your rates. Your agent will help you find out just what you need to do to reduce your rates and get the best deal possible. Many agencies offer car insurance, motorcycle insurance, boat insurance, and more that can be bundled to not only reduce the amount of paperwork and time you spend worrying about your insurance, but also your overall rates. By having more than one policy with any given agency you can reduce your rates greatly and even ease the claims process should you need to make a claim.
Do You Need Insurance Agents?
Though you may think that searching for your own policy may be the most cost effective way to go, you may end up saving more by hiring an insurance agent or going through a third party agency. These agents are trained to see potential savings, to shop around each month to make sure you have the best rates, and to help you through the insurance process so that you are always covered. These agents are third party so they are not affiliated with any one company or another and can often offer impartial information and help when it comes to choosing the right insurance policy for you. Agents at a third party agency are also far easier to reach and work with in most cases then customer service and agents at big name companies.
These tips are all meant to help ease the process. With the right information, time, and effort anyone can find affordable rates no matter where they live. Kentucky is just one state and knowing what you can do to get the best rates is just one way to save money and time in the long run.
2 Point Highlight
Knowing how to get the best deal on your homeowner’s insurance in Kentucky is just one way you can save money without scrimping on coverage.
Some popular homeowner’s insurance companies in Kentucky are Amica, Allstate, State Farm, Traveler’s, and MetLife.
