Choices Discounts Policy and Coverage Strategies
Policy and Coverage Strategies - There are some great tricks and tips you can use to get the most out of your insurance dollars, many of these may save you money. These custom policy designs can maximize your insurance dollars. Choose the types of coverage that are most important to you while leaving out the rest.
Bundling - In some cases insurers have bundle certain types of frequently purchased together coverage item into on optional endorsement to save you money. Rather than selecting a coverage item by item, ask us for what packaged enhancement endorsements may be available. Give us a call at 607-843-8860 or email us at insurance@drickardinsurance.com.
Unbundling - Insurers are not the best on every type or business or occupancy class they look at. The differences between companies for the same policy could be thousands. Consider unbundling.
Payments - The fewer payments you make on your insurance policies the more you will save just in installment fees. Plus when you select an annual single payment policy at inception you save even more, depending on your chosen insurer's options. Therefore, if you can pay your policy in full, let us know up front and that will aid us when you give us a call at 607-843-8860 or email us at insurance@drickardinsurance.com to set up you new insurance. If you are unable to start your valuable coverage with a PIF policy you may select a one pay option upon renewal and enjoy the benefits in the future term.
Many insurance companies we work with give discount prices for paying a policy off in full (PIF). Many of those insurers accept credit card payments. Many of our landlords have reward plans linked with their credit cards. Therefore, many of our landlords get rewarded for saving money on insurance!
Building Coverage Amounts - The closer your building coverage amounts are to the current estimated replacement cost the better your price of insurance for the building will be. If you give us a call at 607-843-8860 or email us at insurance@drickardinsurance.com, we can find that sweet spot price that best fits you.
One of the most popular strategies is that our landlords are stopping buying deductibles so low that they would never turn in a claim for the such a low amount. This saves them money. They instead increase the amount of coverage on the building. Usually within 20% of the replacement cost of the structure. This increases the value of the insurance premium spent because there is usually a discount for that much coverage. Call at 607-843-8860 or email us at insurance@drickardinsurance.com so we can help you create a policy that fits your needs while saving you money.
Locations - Grouping location that have similar risks together often allow for better policy choice. For instance if you have your single family rentals groups together and buy policies for them you may get a better overall price than if you include 4 family houses in the package. Perhaps the 4 family house is better priced with a different insurer. We will be glad to help you with the right coverage strategies if you give us a call at 607-843-8860 or email us at insurance@drickardinsurance.com.
*Savings vary by insurer. Not all insurance companies offer the same options. Not all options are available in every state. There are many factors involved in creating a policy that is right for you. Just because it is cheap doesn't mean it is better. Policies may look the same however the devil is in the details. Seemingly small endorsements or changes of a few words in a policy make a big difference at the time of a loss. You should know your policy well. For more details contact us at insurance@drickardinsurance.com or at 607-843-8860.