AVAILABLE NOW!

FOR SALE in BAILEY PARK, BENTON PA

This lovely home:   1-Bedroom, 1 Bath, 1-Car Garage

$199,000.00

Insurance Premiums: Too Pricey to Protect?

 

In recent years millions of Americans have been forced to deal with home insurance premium increases and fewer choices as more carriers exit high-risk areas and decline to renew policies.

The percentages are climbing, depending on the zip code you reside in.

Non-coastal states like Arizona, Illinois and Pennsylvania saw premiums grow by 44 percent or more.  1 in 7 owner-occupied homes are currently uninsured due to the increases.

Reviewing your coverage as well as raising your deductible is a standard way to lower premiums.  Try this with other structures such as fences, detached garages or with your contents.  Weigh the consequences.  Dropping personal property coverage from 75% of your dwelling limit to 25% might only save you $100.00 a year.   Is giving up that coverage worth it?

Don’t be afraid to shop around.   Retirees can sometimes get up to 10% off with some insurers since they spend more time at home.

If home insurance squeezes your budget so tightly that you are cutting or charging necessary purchases and constantly dipping into savings, you may no longer be able to afford to live where you do. 

Changing your situation and location may or may not be ideal for you; but only you know your financial situation.