• Post last modified:October 5, 2020
  • Post category:Insurance

So I think we can all agree that lower insurance premiums are a great thing that everyone would like to have.  Now everything that is insured obviously has different values and risk levels, so no two policies and premiums are identical, but having the lowest premiums possible for such major policies such as Connecticut homeowners insurance can leave you with more money in your pocket.

What then can lower your premiums and give you more cash? It’s a pretty quick fix in fact.  Increasing your deductible on your CT homeowners insurance policy is a sure-fire way of lowering your monthly premiums.  A significant increase in your deductible will lower your annual homeowner’s insurance bill, but the key here to big savings is ‘big increases.’  By increasing your deductible by a couple thousand dollars, your premiums will shrink.  This doesn’t mean a couple hundred dollar increase, we’re talking at least a couple thousand.  But please remember, the larger your deductible, the larger out-of-pocket expense you will  incur in the event of a claim or loss. Make absolutely sure that if you raise the price of your deductible that you can afford the increase.   

So what would the savings picture look like? Well, take for example a home that has a policy of one million dollars and a twenty-five hundred deductible.  By increasing the deductible on the home to ten thousand dollars, that policy could save it’s policy-holder around one thousand dollars a year! If you can afford this increase, it seems like a great idea to me! In case you’re looking to save some cash on your  CT homeowners insurance, this summer, give the insurance experts at Paradiso Insurance a call today!