Homeowners are always looking for ways to lower premiums without sacrificing coverage. For many, the answer is as simple as purchasing a home security system. If you are planning to buy an alarm system to lower insurance costs, there a few things you need to know first.
Types of Alarm Systems
There are two types of home security systems – monitored and unmonitored. Some insurers offer premium discounts for both, although the greatest savings are always provided through monitored systems. Although monitored systems usually cost more than unmonitored systems, much of the cost is offset through discounted insurance premiums.
What to Consider
On average, you can expect your homeowners insurance premiums to drop by as much as 20 percent once you install your alarm system. Considering average homeowner’s insurance premiums in America are approximately $800 to $1,000 annually, this could mean a savings estimated at $160 to $200 per year, or $16 per month. Chances are, the insurance savings will not completely pay for your monthly alarm monitoring costs, but it can lower your alarm costs by 30 to 70 percent.
Keep in mind, however, that your insurance premium discount will vary based on your insurance company. Contact your insurer to find out what alarm system discounts are available to you. This may also be a good time to shop and compare rates from other insurers as well.
Keep in mind that other similar discounts may be available to you as well. For example, some alarm system companies also offer monitored smoke and heat alarms. Like burglar alarms, smoke monitors help ensure the fire department is deployed as soon as possible in the event that your home catches fire while you are away. This can help contain damage, as well as insurance replacement costs, resulting in an insurance premium reduction.
Cell phone use is at an all-time high in the U.S., with an estimate 91 percent of all Americans using a cellular device. Although cell phones have certainly made communication easier, they have proven to be distractions to motorists on the roads. In fact, cell phones have become such a problem, that several states are cracking down on cell phone use while driving — limiting use, or even banning it altogether.
Reasons Why More States are Implementing Cell Phone Laws
Nearly one in five accidents are caused by distractions, and according to researchers at the University of Utah, drivers are equally as impaired as drunk drivers when using a handheld device. Unfortunately, many of those drivers are responsible for roadway accidents that cause traffic fatalities. More than 3,000 people are killed every year in the U.S. due to distracted drivers. State by state, more and more laws are being passed to prevent these deaths from occurring.
All types of cell phone use are proven to be distracting, although some types are worse than others. Texting while driving for example, is by far the most dangerous, increasing the chances of collision 23 times. Similarly, talking while holding a cellular device is worse than using a hands-free device, although both are considered dangerous.
Laws by State
Cell phone laws are different in every state. As of July 2012, there are still no states that implement a complete ban on cell phone use while driving, although 10 states ban all use of hand-held devices. States seem to take text messaging more seriously, however, as 39 states prevent drivers from sending or receiving text messages while driving. Still, other states only place restrictions on certain types of drivers, such as school bus drivers or motorists under the age of 20.
If you own a home, chances are you have homeowner’s insurance to protect the investment you’ve made in your property. Although home insurance is an important way to guard against major repair and replacement expenses, most homeowners wouldn’t mind a lower rate for their insurance premiums. Fortunately, there are ways for your to save on home insurance without sacrificing your coverage.
Do More to Protect Your Property
One of the most common discounts that insurers shell out to homeowners involves the additional safety measures taken to avoid insurance claims. For example, insurers may ask you if you have a monitored alarm system, which can equate to as much as a 20 percent discount in premiums. Other safety discounts may be available for a fence around your pool or extra fire alarms and extinguishers.
Raise Your Deductible
Your deductible is the amount of money you must pay out of your pocket before your insurance company will pay a penny for your claims. The higher your deductible is, the lower your premium will be. Depending on your policy and the amount of coverage you have, raising your deductible from $500 to one percent of your home’s property value could equate to hundreds of dollars per year in savings.
Purchase Multiple Policies
Unless you live in a pedestrian-friendly community, chances are that if you own a home, you also have a car to insure. Insurance companies like it when their customers purchase multiple insurance policies from them and are willing to dole out discounts for having both your home and auto insurance policies secured by the same provider. If you do not need auto insurance, ask your home insurer if multiple policy discounts are available for purchasing other types of insurance, such as life insurance or coverage for a recreational vehicle.
Compare Home Insurance Rates
Ultimately, the amount of money you pay for home insurance is directly correlated to the company you choose to be your provider. Every insurance company has a different formula for determining how much to charge each customer in premiums, and the company that is most affordable for a friend or family member may not necessarily offer the best rate to you. Be sure to shop around and compare home insurance rates from a private insurance broker who offers quotes for multiple companies. You’ll save time getting quotes from each company individually and you won’t feel pressured to purchase from any particlur one.
With homeowners insurance rates rising an average of five percent every year and car insurance rates not far behind, finding affordable home and auto insurance might seem like a challenge. Fortunately, you can quickly and easily find what you’re looking for with insurance quote comparison sites. These websites are specifically designed for comparing insurance so consumers can take advantage of online home and auto insurance rates while still getting the coverage they need.
Selecting Home and Auto Insurance
When selecting home and auto insurance, it’s important not to sacrifice service and coverage for low rates. The last thing you want when you’re involved in a collision is for your insurance company to be unavailable and then, when you do reach them, to find out you don’t have sufficient coverage to pay for the necessary repairs to your vehicle. However, when you use a trustworthy insurance comparison site like AgentInsure, you can rest assured you only get quotes from reputable insurance carriers that offer top-notch service and sufficient coverage. In addition, with AgentInsure, you always receive the name, phone number and email address of a licensed and experienced insurance agent in your area. That way, you have a live person you can contact to discuss any concerns or questions you have about your coverage. He or she can also help you make changes to your policy if necessary, such as lowering your annual mileage because you’ve started working at home two days a week or raising your collision coverage because your wife is expecting a baby. No matter what type of coverage you’re looking for, with AgentInsure, you can be sure to get the maximum coverage at the lowest rates!
You’ve got the kids, you’ve got the dog—and now it’s time to get a car that’s large enough to transport the entire family. Whether you’re driving your daughter to school, your son to baseball practice, or the whole gang to Disneyland for the day, an SUV is a comfortable, safe vehicle and a great choice for a family. But when it comes to paying the car insurance premiums, don’t be too surprised when you see the SUV insurance rate.
SUV Insurance Rates are Significantly Higher
An estimated 12 percent of all vehicles in the United States are SUVs, despite the fact that SUV insurance rates are generally between 10 and 20 percent higher than those of a regular car. And though this might seem like a lot, there are a number of reasons why insurance companies charge high SUV insurance rates.
Reasons for High SUV Insurance Rates
One of the reasons SUV insurance rates are higher is that though SUVs might feel safer to drive, they can cause a lot of damage to other vehicles in a collision which costs the insurance companies more in the event of an accident. In addition, SUVs are more at risk for flipping over in high-speed swerves, turns, or collisions. And for the past seven years, SUVs have been the most popular target for car thieves, with the Cadillac Escalade topping the chart last year for “most stolen.”
Get the Lowest SUV Insurance Rates
To compare and get the lowest SUV insurance rates, go to AgentInsure and request your free quotes from a number of insurance carriers. You can compare all of the different quotes and select the policy that offers you and your family adequate coverage without breaking the bank.