I received a from my insurance company telling me that my roof's age in now used to set my premiums. They have the roof listed as fiberglass, installed in 1996, but we actually replaced it last year.
"Insurance companies are obviously in business to make money.," State Farm agent Michael Fisher says. "They want to make sure that the property they are insuring is properly maintained and they want to reward people for properly maintaining them."
I contacted USAA to update the information, detailing the type of shingles used and when they were installed. One call knocks $66 off my yearly premium. If the contractor sends a roofing certification that mine is Class Three or Four impact resistant, I'll save another 31 bucks...that's almost 10 % off the premium.
"There's a lot of discounts on homeowner's insurance," Fisher says.
Fisher says one of the biggest ways to save is using one company to insure your home and car.
"Making sure your insurance company knows about home alert," He says. "Be it a burglar alarm, smoke detectors, fire detectors. All of those things contribute and give you a pretty sizable discount."
Make sure your deductible is appropriately proportioned to the value of your home.
"The higher your deductible is, the lower your premium is," he says.
The deductible philosophy has changed , especially since 9/11. Consumers are now encouraged to carry a higher deductible.
"It helps small claims from being filed and inevitably prevents people from getting canceled or non renewed due to small claims."
If you haven't made claims, there's a discount for that too. And if you stick with the same company, they may give you a break just for longevity.
"You're developing loyalty to them, but they're also developing loyalty to you."
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