SERVICES : Personal Insurance HOMEOWNERS INSURANCE: TIPS FOR REDUCING YOUR PREMIUM Jul 30, 2008 by Insurance Newscast With gas prices fluctuating, the mortgage crisis and economic conditions threatening a recession, people everywhere are looking to save money. A good place to start is with your homeowner's policy, says Frank N. Darras, one of Americas' top insurance lawyers. In spite of our economy, home values have increased over the past 5-15 years. Many people have failed to determine if their current insurance coverage would be adequate to replace their homes. Your policy should allow you to completely rebuild your home should a disaster occur. If not, get your policy updated to match your current property values. "Make sure you are not grossly underinsured," says Darras. "You will pay more in premiums but save in the long run, if disaster strikes." Darras offers these tips to save money: -- Determine the limits you want on your homeowners insurance, what value you need to insure, get multiple quotes. -- Consider purchasing your homeowner, auto and umbrella insurance with the same company so a multi-coverage discount will apply. -- Having smoke, burglar alarms and a sprinkler system could mean bigger discounts. -- Get a quote for insurance that would pay to replace your belongings, rather than pay you based on their depreciated value. -- Ask your agent what documentation you need to substantiate a claim, in case of theft or fire. Make sure you videotape all of you personal properties including what is in the drawers and cabinets and send the tape to someone you trust for safekeeping. -- Make sure you carry enough liability coverage to protect you against a lawsuit if someone gets slips, trips or gets hurt on your property. "Always read the policy when you receive it and ask your agent to slowly and carefully explain any provisions you don't understand. Finally, never buy insurance from a company you don't recognize," says Darras.
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Montgomery Insurance and Investments Agency, Inc. is a locally owned and operated independent insurance agency with specialists in personal and commercial insurance, financial services including investments and employee benefits. They have two conveniently located offices in the downtown areas of Jamestown and Xenia.
Left to right: Jim Saner, Eric Montgomery, Brad Montgomery and Roy Montgomery. "Prompt efficient service." - Paul & Edith Calloway DISCLAIMER - Securities and investment advisory services offered through Tower Square Securities, Inc., a member of FINRA / SIPC. Montgomery Insurance and Investments Agency, Inc. is not a registered investment advisor or a securities brokers dealer and has no affiliation with Tower Square Securities, Inc. Eric Montgomery is licensed in AL, CA, FL, GA, IL, IN, MA, MI, MO, NC, OH, VA, VT, WI, WV for the sale of security products. Roy Montgomery is licensed in OH for the sale of security products. Don Cain is licensed in OH for the sale of security products. |
| Xenia: 114 South Detroit Street • Xenia, OH 45385 • (937) 372-7646 Jamestown: 1 West Washington Street • Jamestown, OH 45335 • (937) 675-9321 |
| CD200601302 Exp 07/2007 |