Transfer of risk on homeowners insurance

A homeowners insurance strategy you can use is Transfer of Risk

You can transfer more of the risk to you when you take a higher deductible

The insurance company does not want you to make small claims

I see it every day….claims payouts as low as $500

 

Consider moving the risk from the insurance company to you

When you do this the insurance companies offers you a lower rate on insurance

The deductible is the amount the insurance company deducts from the claim check

The higher the deduction on the claim check, the lower rate you pay for home insurance

 

DO YOU MAKE HOMEOWNERS INSURANCE CLAIMS?

If you are someone that doesn’t make claims,

you need to consider a higher all other perils deductible.

All other perils deductible is any claim that is not a hurricane or named storm.

 

Here are some common home insurance claims where  the all other perils deductible would apply

-Water claims (not flood which is rising water from outside)

-Busted pipes

-Busted water heater

-Fire

-Theft

-Vandalism

-Smoke damage

 

WHAT ABOUT MY HURRICANE OR NAMED STORM DEDUCTIBLE?

Over the past few years this deductible which was once as high as 5% of your insured replacement cost value

Due to many homeowners insurance companies entering the Louisiana homeowners insurance market 

the named storm and hurricane deductibles can be as low as 1,000

Consider the rate difference on a 1000 deductible and a 1% hurricane or named storm deductible

If there is a savings you may consider the higher deductible

I’m sure another Hurricane Katrina and this low deductible option will go away

If the insurance companies are offering a low hurricane deductible you may want to get it while it is still being offered

 

UPC insurance company can now offer a wind deductible as low as $1,000

If you are looking for a large financially stable insurance company that writes in over 12 states and has the ability to pay claims 

UPC might be the answer for your homeowners insurance protection

 

 

What’s this all about?

Transfer of risk is not just a homeowners insurance strategy for wealthy individuals.

This is something you can do as well.

You can save a considerable amount of money over time by taking on a higher deductible and moving some of those savings to increase your car insurance liability and make sure you have the insurance protection in place to protect you, your family, your investments, your assets and most importantly your future earnings.

And remember only take on the amount of risk you can handle.

Insurance is used to protect you from a financially devastating event.

Raise your deductible to a level that would not hurt you financially.

If a $1000 loss is a financially devastating event,

don’t raise your deductible higher to save money on your home insurance rate

Insurance is to help you sleep at night knowing you are protected,

not to keep you up at night wondering if a claim is covered

 

My name is Tim D’Angelo and I can review your deductible savings strategy on home insurance

You can contact me at 504.348.3131 or complete the quick form