A survey conducted by the Consumer Reports National Research Center revealed that a lot of policyholders are not satisfied with their current real insurance carrier and do not believe that they will be there for them in times of catastrophes.
In addition to this, it was also found that many consumers believe that excellent home insurance is expensive; more claims-related problems are actually experienced with large insurers such Allstate Insurance Group; delays in settlement payments are common; and carriers are currently scaling back on the insurance coverage.
It is therefore not surprising that a lot of homeowners are looking to switch insurance carriers. The only problem is that applying and getting approved for one has become trickier. Insurance companies have revised their policies and become picky. Most use the applicants’ credit scores as basis for the coverage.
For this reason, consumer advocates recommend the following if you want to enjoy the best house insurance coverage:
- Do some shopping and comparing every 5 years for a similar coverage. Make sure you take into consideration the policy limits, riders and deductibles.
- Look for an insurance carrier that offers a bundled package. You get to save as much as 15 percent.
- Increase your deductible to save on overall insurance premium.
- Strive to have a clean credit history. Check for wrong entries that could affect your chances of getting approved for certain coverage.
- Upgrade and maintain your home to cut insurance costs by 20 percent, Install burglar alarms, deadbolt locks, storm shutters and smoke detectors.
- Ask for a discount especially if you have been with the same home insurance company for some time now.
- Always remember to update your home inventory to make the claims process easier for you.
- Do not make it a habit to file for claims since this can increase your premium or be dropped altogether by the carrier.
- Do not make any inquiry regarding the filing of a claim. This will be probably reported as an incident and you will put yourself at risk for a higher premium.