If you have had your homeowners insurance policy for many years, like other homeowners, you likely haven’t looked at it, let alone thought about new quotes for a new policy. The problem is that your circumstances over time may change, and you may need to change your coverage. In many instances, you may be able to get a lower cost policy. The first thing you need to do is take a look at your life to determine if there are changes that can affect the premiums you are paying.
Read your policy first
You need to know exactly what your insurance is covered and what it is not covering. You may not have ever read your policy. You were too excited to have purchased your new home and didn’t take the time to read it, instead, you were satisfied to listen to your insurance agent. This may be good enough at the time, but now, your life may be much different. The best thing to do is read through your policy, and then call your agent if you have any questions about what the policy says.
Determine if there is anything significant that has changed
An example of a significant change is when your children move out of the house. Perhaps they are old enough that they have moved out and started their own careers, or maybe they are away at college and plan to get a job and have their own place to live after school. Whatever the case may be, you can get a lower rate on your liability portion of your policy because with no children around, there is less chance of injury on your property. This will mean less liability on your policy, and a chance for a higher deductible that will mean a lower premium.
There are other things to consider as well
Do you still have a pool? If you have a pool, and you don’t use it much anymore, you may want to have it covered over with dirt. This will reduce your liability greatly. For more ideas on how to reduce the cost of your policy, you can contact a homeowners insurance lodi ca agent to get more information.