Homeowners insurance will protect your investment if youre going to take the plunge and get a mortgage to purchase your dream home. The problem with most homeowners policies is that people stick to them even when the policies fail to meet their needs. The hassle of switching home insurance providers seems to be too much for some people. The reality is that your benefits wont get better with time, and rising premiums rarely come down. If you want more out of your home insurance policy, the only way youll get it is to take control of your finances and make the switch.
In case the writing on the wall is not clear enough for you, here are five signs that its time to get a new home insurance provider.
You’re cannot afford to raise your deductible any further
One way to lower your home insurance premiums is to raise your deductible. Even small increases in the deductible will result in a significant reduction in your premiums. But as appealing as that may be, if a high deductible would be too much of a financial risk for you then its not the ideal solution. Instead of putting your savings and financial future in the balance by raising your deductible, you should get a few quotes from other insurance providers to see if switching will reduce your premiums.
Youre paying for coverage you dont need
Some insurance companies lock consumers into expensive high bundled packages that they cannot get out of. Thats not to say theres anything wrong with packaged deals; packaged deals offer significant savings. But when your package is filled with solutions that doesnt fit your lifestyle, its like throwing good money out the window. If you have no choice but to pay for home insurance, it might as well be for something you can use. Check out the offers at another provider.
Your insurer goes silent when you ask about discounts
Discounts can be applied at any point in the policy. Ideally, you should be offered discounts from the start, but if youve upgraded your home to reduce the risks then youre insurer should reduce your premiums. Smoke detectors, alarms, fire extinguishers, and carbon monoxide detectors are just a few security measures that would qualify for 10-20% discounts.
If your insurer is unwilling to negotiate rates, think how difficult they might be when you have to file a claim.
Competitors are offering great sign-up bonuses
New insurance companies offer great incentives to attract new customers. Dont turn your back on a great deal just because youve never heard of the company. Youll have to do some research to find out more about the company, but be willing and ready to grab at a great deal if youll get better benefits for less money.
Poor customer service
You know youre at the end of your relationship with your current home insurance provider if youre having a hard time coping with customer service. Larger companies are known for automated systems, and long wait times just to speak with someone at the other end. It gets even worse when you have to deal with an agent who cannot provide reasonable answers to your questions.
If youre tired of grappling with the customer service agents, then its time to move on. Poor customer service is a sign thats somethings wrong. The service would be just as bad when you have to file a claim, and thats something you wouldnt want to deal with. Make the switch and work with a company that makes customer care and service their number one priority.
Sam Jones the author of this article studies the energy market to advise on the best electricity providers. He recommends energy comparison site uSwitch.com as a great resourcenfor finding the cheapest energy tariffs
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