Tulsa Home Insurance Discounts and Savings
Tulsa Home insurance from our providers is a real value. Depending on which company you choose the following discounts may be available
- Approved electronic burglar alarms
- Dead-bolt locks or certain other security measures
- Smoke alarms, sprinkler systems or other fire prevention systems
- Age of your home
- Heating, electrical or plumbing updates
- Companion policies such as your auto policy with same company
- Senior citizens
- You may also qualify for a lower rate if you live in close proximity to a fire station.
- Impact-resistant (hail-resistant) roofs
- Personal property identification marking
- Credit score (Click here to see how can you improve your credit?)
- Continued policy renewals
- Claims free discount
How to Lower Your Tulsa Home Insurance Bill
1. Shop Around
You can start by asking your friends, checking the Yellow Pages or even contact your state insurance department. (Phone numbers and Web sites are listed here.) National Association of Insurance Commissioners (www.naic.org) has information to help you choose an insurer in your Oklahoma, including complaints. Oklahoma often make information available on typical rates charged by major insurers and many states provide the frequency of consumer complaints by company.
Also check consumer guides, Tulsa home insurance agents, companies and online Tulsa insurance quote services. This will give you an idea of price ranges and tell you which companies have the lowest prices. However, don’t just consider price. The insurer you choose should offer a fair price and deliver the superior service you would expect if you needed help in filing a claim. So in evaluating service quality, use the Phone numbers and Web sites cited above and talk to a number of insurers to get an understanding for the type of service they will render. Ask them what they would do to lower your costs.
Another great source is utilizing rating companies such as A.M. Best (www.ambest.com) and Standard & Poor�s (www.standardandpoors.com) . These companies check the financial stability of the companies you are considering. When you’ve narrowed the field to three insurers, get price quotes.
2. Raise Your Deductible
Deductibles are the amount of money you have to pay toward a loss before your insurance company starts to pay a claim, according to the terms of your policy. The higher your deductible, the more money you can save on your premiums. Most Tulsa home insurance companies recommend a deductible of at least $1000. If you can afford to raise your deductible to $2,500, you may save as much as 25 percent.
3. Buy your Tulsa home insurance and Tulsa auto insurance policies from the same insurer
Some companies that sell tulsa home insurance, Tulsa auto insurance and liability coverage will take 5 to 15 percent off your premium if you buy two or more policies from them. But make certain this combined price is lower than buying the different coverages from different companies.
4. Make your Tulsa home more disaster resistant
Find out from your Tulsa home insurance agent or company representative what steps you can take to make your home more resistant to windstorms and other natural disasters. You may be able to save on your Tulsa home insurance premiums by adding storm shutters, reinforcing your roof or buying stronger roofing materials. Older homes like around midtown Tulsa can be retrofitted to make them better able to withstand earthquakes. In addition, consider modernizing your heating, plumbing and electrical systems to reduce the risk of fire and water damage.
5. Improve your home security
Normally you can receive discounts of at least 5 percent for a smoke detector, burglar alarm or dead-bolt locks. Some Tulsa home insurance companies offer to cut your premium by as much as 15 or 20 percent if you install a inside sprinkler system and a fire and burglar alarm that phones the police, fire or other monitoring stations. These systems aren’t cheap and not every system qualifies for a discount. Before you buy such a monitoring system, find out what kind your Tulsa Home insurance recommends, how much the device will cost and how much you’d save on premiums.
6. Seek out other discounts
Tulsa Home Insurance Companies offer several types of discounts, but they don’t all offer the same discount or the same amount of discount. For example, since retired people stay at home more than working people they are less likely to be burglarized and may spot fires sooner, too. Retired people also have more time for maintaining their homes. If you’re at least 55 years old and retired, you may qualify for a discount of up to 10 percent at some companies. Some employers and professional associations administer group Tulsa home insurance programs that may offer a better deal than you can get elsewhere.
7. Maintain a good credit record
Establishing a solid credit history can cut your Tulsa home insurance costs greatly. Insurers are increasingly using credit information to price Tulsa home insurance policies. To protect your credit standing, pay your bills on time, don’t obtain more credit than you need and keep your credit balances as low as possible. Check your credit record on a regular basis and have any errors corrected immediately so that your record remains accurate.
8. Stay with the same insurer
If you’ve kept your coverage with a company for several years, you may receive a special discount for being a long-term policyholder. Some Tulsa Home Insurance companies will reduce their premiums by 5 percent if you stay with them for three to five years and by 10 percent if you remain a policyholder for six years or more. But make certain to periodically compare your Tulsa home insurance premium with that of other policies.
9. Review the limits in your Tulsa home insurance policy and the value of your possessions at least once a year
You want to make sure your policy covers any major purchases or additions to your home. On the other hand, you don’t want to spend money for coverage that you don’t need. If your five-year-old fur coat is no longer worth the $5,000 you paid for it, you’ll want to reduce or cancel your floater (extra insurance for items whose full value is not covered by standard Tulsa home policies such as expensive jewelry, high-end computers and valuable art work) and pocket the difference.
10. When you’re buying a home, consider the cost of Tulsa home insurance
You may pay less for Tulsa home insurance if you buy a house close to a fire hydrant or in a community that has a professional rather than a volunteer fire department. It may also be cheaper if your home’s electrical, heating and plumbing systems are less than 10 years old.. If you live in an earthquake-prone area, look for a wooden frame house because it is more likely to withstand this type of disaster. Choosing wisely could cut your premiums by 5 to 15 percent.
Check the CLUE (Comprehensive Loss Underwriting Exchange) report of the home you are thinking of buying. These reports contain the insurance claim history of the property and can help you judge some of the problems the house may have.
Remember that flood insurance and earthquake damage are not covered by a standard homeowners policy. If you buy a house in a flood-prone area, you’ll have to pay for a flood insurance policy that costs an average of $400 a year. The Federal Emergency Management Agency provides useful information on flood insurance on its Web site at FloodSmart.gov. A separate earthquake policy is available from most insurance companies. The cost of the coverage will depend on the likelihood of earthquakes in your area..
If you have questions about Tulsa home insurance for any of your possessions, be sure to ask your Tulsa Home Insurance agent when you’re shopping around for a policy. For example, if you run a business out of your home, be sure to discuss coverage for that business. Most Tulsa home insurance policies cover business equipment in the home, but only up to $2,500 and they offer no business liability insurance. Although you want to lower your tulsa home insurance cost, you also want to make certain you have all the coverage you need.