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January 9, 2012

Is Your Home Insurance Non-Renewing?

Homeowner’s Insurance Rejection, Cancellation and Non-Renewal Prevention Tips

  • Consider whether or not you should even contact your insurance company regarding a minor loss; claims do not need to be filed or paid and even discussing it with your insurance agent could count against your record.
  • Insurers are trying to discourage the time and expense of dealing with small claims and view people who make frequent claims as higher risks to losses, so avoid filing small claims altogether, which not only helps prevent non-renewal but also may enable you to qualify for a  discounted premium.
  • Consider increasing your deductible from the lowest, typically $100 or $250 up to $500 or even $1,000, since you won’t be likely to file claims for smaller amounts anyway; larger deductibles can save as much as 25% on your premium and these savings can be put aside to cover any minor losses you may incur.
  • Always keep your home in good repair to avoid claims in the first place and to receive any discounts your insurance company may offer for home security, electrical, plumbing and other upgrades that decrease the likelihood of incurring losses.

If your current homeowners policy is being non-renewed, please call ACF Insurance today and let us get your coverage back in place on one of your most valuable assets. 919-661-1100

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