Some tips to lessen the possibility of non-renewal or rate increases:
Monitor your claim activity – Insurance companies track how many and what type of claims you file. Frequent claim activity, no matter how small, can impact your rates and chance for renewal.
Bundle your coverage – Keeping your homeowner’s and auto policies with one insurer makes you a more attractive customer. An insurance company may think twice about dropping your homeowner’s coverage if it may mean losing your auto insurance business, too.
Review your deductibles – Make sure that your deductible isn’t so small that you will not be submitting every potential claim for payment, nor so large that it will cause financial hardship in the event of a loss.
Home improvements help – Your home’s wiring, plumbing, heating and roofing should be in good repair at all times. At least twice a year, walk through your home and inspect it for developing problems.
Know a house’s claim history before you buy it – Ask for a disclosure report, which can be obtained from your real estate agent or the seller’s agent. Insurance companies will be wary of a home with previous structural or water-damage claims.
Consult your insurance agent – Working closely with an agent may be the easiest way to stay insured. And they will be your advocate when you have a claim or other problem.
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