Avoid High Premiums

Charles Goodman Group: Trustworthy Chappaqua Insurance Agent

One of the easiest ways to purchase too little coverage is when buying homeowners insurance. It’s perhaps the trickiest type of insurance to find at affordable rates with adequate coverage and reasonable deductibles, and many homeowners don’t realize they’re underinsured until they suffer a disaster that costs more than they anticipated. While the financial markets are rebounding from the economic crash of 2008, it’s still difficult for insurers to make money providing homeowners insurance, and they often must offer increased deductibles and less coverage to maintain the same premiums. A conversation with a Chappaqua insurance agent can answer any questions you have about the deductible you’re required to pay after filing a claim. Depending on the amount of coverage you have, you may be able to file a claim for any property damage or loss that life throws at you. Your policy can also protect you against personal injury and property damage lawsuits from neighbors and others in the area.

Your premiums don’t necessarily go up when you file a claim, but filing several claims in a short period can easily lead to higher rates. You can reduce the amount of money you spend by being proactive about safety, theft prevention and the actions of other people under your coverage. There’s of course no way to prevent a catastrophic weather event from damaging your property, and insurers are being forced to raise rates due to increased natural disasters over the last five years.

The insurance agent experts at the Charles Goodman Group of Chappaqua can assist you with any questions regarding automobile insurance or life insurance.

If your home or place of business is damaged in a storm, the first step to take is to carefully document the damage with photos as evidence of your claim. Your insurer will follow through on its end of your contract, but it has to base its payment on evidence. A reputable repair contractor can help you determine how much it will cost to restore your property to its former condition. You can use a contractor provided by your insurer or hire a contractor you find by other means, but you should always find a high quality professional to do the job.

Buying all of your insurance through the same company can reduce the amount you pay for each policy. You may also receive discounts for switching to an insurer when you take out a new policy. For example, if you buy a new homeowners insurance policy and switch to the same company for your auto insurance, you could receive substantial discounts. The most important point is to minimize the claims you have to make by being careful.