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HOMEOWNER'S/HAZARD INSURANCE Homeowners insurance rates have risen dramatically. More prevalent storms, hurricanes, floods, and wildfires are the biggest culprits behind the increase. Blame mold claims and stock market losses by insurance companies as well. Here are some ways to save on homeowners insurance: 1. Review the Comprehensive Loss Underwriting Exchange (CLUE ) report on the property you are interested in. CLUE details the property's claims history for the most recent five years, which insurers may use to deny coverage. The seller of the property has to order the report. It is available for about $9 from www.choicetrust.com. 2. Seek insurance coverage as soon as your offer is approved. You must obtain insurance to buy. And you don't want to be told at closing that the insurer has denied your coverage. 3. Maintain good credit. Increasingly, insurers are using credit-based insurance scores to determine premiums. 4. Buy your homeowners and auto policies from the same company and you'll usually qualify for savings. But make sure the discount really yields the lowest price. 5. Ask about other discounts. For example, retirees who are home more than working people may qualify for a discount on theft insurance. 6. Seek group discounts. If you belong to any groups, such as associations or alumni organizations, they may have deals on insurance coverage. 7. Investigate a government backed insurance plan. In some high risk areas, federal or state government may back plans to lower rates. Ask your agent. 8. Raise your deductible. Deductibles are the amount of money you have to pay toward a loss before your insurance company starts to pay a claim. The higher your deductible, the more money you can save on your premiums. 9. Improve your Home Security. You can usually get discounts of at least 5 percent for a smoke detector, burglar alarm, or deadbolt locks. 10. Stay with the same insurer. If you've kept your coverage with a company for several years, you may receive a special discount for being a long-term policyholder. 11. Don't confuse what you paid for your house with rebuilding costs. The land under your house isn't at risk from theft, windstorm, fire and other perils covered in your homeowners insurance policy. So don't include its value in deciding how much homeowners insurance to buy. If you do, you will pay a higher premium than you should. INSURANCE COMPANIES The insurance companies listed below are provided to you as a courtesy only, and in no way constitute any warranties or representation as to the quality of the company, their services or subsequent claims. You may select any insurance comapny of your choice, including any not listed below. The Broker is not responsible for any representation, guarantees or warranties of the selected companies or their services. Allstate Buddy Milton 770-993-1200 Jones-Logan Insurance Co. Regan House 770-394-7812 Byrd Insurance 770-439-7991 For more information contact: Joli Tripp
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