Category Archives: Home Owner

Lower Your Insurance Costs

10 easy ways to lower your auto and home insurance costs.

First, let’s tackle car insurance. Here are some tried and true ways to lower the cost of owning an automobile.

  1. Drive less. The more you drive the more your chances for an accident. So, insurance costs are less for those who drive less. If you can combine trips for errands, or carpool to work, you can save on insurance.
  2. Set higher deductibles. The more you are willing to pay in the event of an accident, the less you will pay month to month. Typically, deductibles range from $0 to $1,500. If you can swing a higher deductible, you can save big.
  3. Take a defensive driving course. Typically, teenage drivers and seniors take these courses, but any driver may benefit from taking one and it may save you some $.
  4. Use that garage. It may be handy for storing all that stuff you haven’t used in years, but it’s most effective for keeping your car safe. Garages can reduce your cost of insurance.
  5. Be a safe driver. Most all insurance companies reward safe drivers with clean driving records. That includes speeding too, so watch your speed and save!

Now for homeowner’s insurance.

  1. Make your home safer. Here are some things you can do now to help reduce your insurance premiums:
    • Secure your doors and windows with dead bolts and strong locks.
    • Install a security system with an outside signal and connection to local polices.
    • Install and maintain smoke detectors.
    • Install a fire alarm that automatically alerts the local fire department.
    Safety is always a good thing, but consult your independent Provident Insurance agent to be sure safety upgrades will lower your costs.
  2. Don’t smoke. Generally, non-smokers qualify for lower homeowners insurance premiums than smokers. If you’re a non-smoker, then be sure to ask for any available discounts.
  3. Bundle Policies. Merge all your policies with one provider. You may have found better rates on each individual policy by shopping them around, but it’s often more affordable to bundle them all with one company.
  4. Increase the deductible on your policy. In many cases, a higher deductible means a lower premium. It also means paying more out of pocket in the event of a covered loss though. Talk to your Provident Insurance agent so you can determine the best balance for you.
  5. Insure the replacement value only. You may have paid $250,000 for your home, but it may not cost that much to rebuild it. The land your home sits on has some value, so subtract that from the equation. Likewise, the market value may be more than the cost to rebuild – this is common in popular coastal areas or even high-demand neighborhoods with good schools. So only pay what it costs to replace…not what you paid or what it’s current market value.

To learn more, contact your independent Provident Insurance agent. We serve Plainfield, Greenwood, Avon, Brownsburg, Indianapolis, Carmel, Zionsville and the entire central Indiana area. Stop in one of our convenient locations to discuss your insurance needs today.

Protect Your Home

Do I really need homeowner’s insurance?

Yes, no and maybe. That’s not meant to confuse, it just depends. You see, unlike driving a car, you can legally own a home in Indiana without insurance. But this only really applies if you own your home outright – meaning there is no mortgage on the home. If you do have a mortgage, then your lender will likely require you to have home insurance to protect their investment. They actually own your home until it is paid off, so any significant damage that isn’t repaired can impact the value, and ultimately, their investment.

Lenders may also require additional insurance if you live in an area that is prone to flooding or earthquakes. In fact, the Federal Emergency Disaster Agency (FEMA) actually created flood zone maps of the entire U.S. to help determine homes at the most risk for flooding and, subsequently, those homes that are legally required to have flood insurance.

Condo’s, Townhomes, Apartments.
If you own a condominium or co-op, your board may require you to buy condominium insurance or home insurance. Be sure to check with your board to see what type of policy is required.

If you’re looking to insure a townhouse and your townhome association has a master policy (which typically covers the structure and common areas), you’ll get renters insurance. If your association does not have a master policy, you’ll get homeowners insurance.

Homeowner’s insurance can also be used to protect others. Visitors to your home who are injured or even neighbors property can be covered by your policy, but it varies by policy to policy, so be sure to ask your agent for details. For example, say a relative is visiting your home and a tree branch falls on their car. Your homeowner’s policy may cover that damage. Likewise if a tree in your yard falls onto your neighbor’s house, it may require your insurance to cover damages. Again, it varies by policy.

Your independent Provident Insurance agent is trained to help guide you through all the decisions that will provide you with the best coverage at the best price. We’ll make sure you are insured adequately for your assets and your budget.

To learn more, contact your independent Provident Insurance agent. We serve Plainfield, Greenwood, Avon, Brownsburg, Indianapolis, Carmel, Zionsville and the entire central Indiana area. Stop in one of our convenient locations to discuss your insurance needs today.