When you check your mailbox later this year, you may end up finding an unwelcome surprise: a letter stating your insurance premium will be increasing. If that’s the case, the next logical step would be to find ways to reduce your bill.
If you are looking for ways to reduce your insurance bill, experts suggest that you closely examine your policy, talk with your agent to know what’s being covered, how much of you have, your deductible amount and whether or not you’re receiving all of the discounts you’re entitled to. At the same time, it’s imperative that you not set yourself for a deductible that’s beyond your financial means or end up with little money to make repairs and rebuild should an unforeseen catastrophe affect your home.
Keep in mind that if your insurance has yet to increase, it’s probably just a matter of time. Just halfway into 2016, more than fifteen home insurance companies have received approval to raise their rates while eight of those are already in effect and seven more are scheduled to begin the first of September. Nine more companies have also placed requests to hike up their rates which, if approved by the state, would go into effect by the end of November.
To make sure you’re receiving the best coverage for your situation, make sure you read your policy and know what it covers. You may also wish to request a home mitigation inspection which costs about $100 to $150 but can potentially earn you a discount. Some simple home improvements such as adding shutters or impact glass can also be beneficial.
This information is provided by Miami bankruptcy lawyer Alonso, Perez & Santos, LLP. Our areas of practice include bankruptcy, insurance litigation, debt harassment, credit card defense, foreclosure defense, immigration law, condominium law, business start-ups, and more. Call 305-676-7545 to speak with one of our attorneys and receive a free consultation including a Miami insurance attorney. We look forward to working with you.
This information is provided for educational or informational purposes only and should not be construed as legal advice. The information is not provided in the course of an attorney-client relationship and is not intended to substitute for legal advice.