Are you over paying for Home Insurance?

DID YOU KNOW that average Home Insurance premiums in NY State have doubled in the past ten years?

The next question is, are you over paying for Home Insurance? Maybe, but how would I know?

The first thing you need to do is find your current home insurance policy. 

• What's the name of your current Home Insurance company?
• If you know, give them a call and ask them to email you your most recent declaration page
• If you don't know, what's the name of your Insurance Agent or the Broker that you purchased your policy from?
• Contact the agent or the broker and have them email you a copy of the most recent declaration page

What if I don't know the name of the Insurance Company or the Insurance Agent? 

• Contact your bank or your mortgage company. 
• Look at your bank statement online
• Check your Escrow Account. 
• The majority of your Escrow Account goes toward paying Property Taxes
• The balance of your Escrow Account pays for your Home Insurance

Once you have your Home Insurance declaration page, you can begin shopping for better coverage at a better rate. Here's the best part, if you can reduce your Home Insurance, you can lower monthly mortgage payments!

It gets better, some companies, like Allstate, offer up to a thirty-eight percent discount when you bundle your Home and Auto Insurance together! Hopefully, this gives you enough of a financial incentive to find your current home insurance policy and consider shopping for better rates. More importantly, this exercise will help you put the contact information of your insurance company and you will know who to contact in the event of a claim.

If you have any questions, feel free to contact by phone, email or through any of my social media channels.