How a Home Security System can Decrease Insurance Costs

How a Home Security System can Decrease Insurance Costs

One principle we’ve stated over and over again is that the cost of homeowners insurance is based off of your perceived risk of filing a claim. Simply put: people who are more likely to file an insurance claim will pay more for their home insurance premium than people who are less likely. If you’re unhappy with the amount you pay for your home insurance premium, it’s possible to take steps to reduce it – in during the course of your current policy. According to the FBI, a burglary occurs in the United States once every 15 seconds, and homes without security systems are burglarized three times more often than homes that have them. When you install a monitored home security system, the likelihood of being burglarized immediately drops – and your homeowners insurance premium should, too. As a matter of fact, the Insurance Information Institute has studied insurance premium discounts among people with home security systems and their data has shown that it’s possible to get as much as a 15% to 20% reduction in your premium by installing one. Is a Home Security System Right for You? Admittedly, an argument can be made that any home that isn’t protected by a monitored security system should have one; especially by the home security industry! In reality, whether or not you can truly benefit from a monitored home security system will take a bit of thought. People who tend to fill their homes with more expensive items including furniture, electronics, or artwork, and as well as those who keep particularly valuable items like jewelry or expensive collections, will likely benefit...
Holiday Home Safety Tips from Insurance SCV

Holiday Home Safety Tips from Insurance SCV

During the holiday season, people tend to do more celebrating – and that means more cooking, entertaining, and decorating. Unfortunately, it also means the risk of accidents increases pretty significantly this time of year. Homeowners insurance is all about risk assessment, and having to file a claim – even a minor one – can cause your premium to go up significantly for years to come. With that in mind, here are a few holiday home safety tips from Insurance SCV. Lighting When you put up extra lights as part of your holiday decorations, quality definitely trumps quantity. Make sure that the lights you put up are made from materials that are flame resistant, fire-retardant, and/or non-combustible. If you decide to use candles instead of artificial lights, never leave them alight when you leave the house, or even if you leave the room for an extended period of time. Your home insurance policy probably covers fire-related damage, but if the fire starts due to negligence, your protection can be voided. Trees If you’re going to have a tree this holiday season, going the artificial route can save you a lot of time and mess. Be sure that your tree is clearly labeled as “fire-resistant” before you buy, though. For those who prefer live trees, the fresher the better, as the trees become easier to ignite as they dry out. Whatever type of tree you buy, make sure you set it up away from fire places or other sources of heat, and see that it doesn’t block any doorways. Entertaining Always be mindful of what you have cooking, and don’t leave...
Elements of a Standard Home Insurance Policy for New Homeowners in Santa Clarita

Elements of a Standard Home Insurance Policy for New Homeowners in Santa Clarita

No matter how you look at it, purchasing a new home is a big deal. For first-time home buyers, signing on the line and making it official is a huge milestone in their lives. For others, buying a new home can represent a fresh start. Whatever your reasons are for buying a new home in Santa Clarita, you’ll want to make sure you buy a homeowners insurance policy that provides you with the proper coverage to keep your new investment well-protected. There are four types of coverage essential to any new home buyer that the standard home insurance policy covers: structure, personal belongings, liability protection, and additional expenses. The Structure The structural portion of your home insurance policy provides coverage if you need to rebuild or repair your home if it’s damaged or destroyed by one of the covered losses (fire, hail, lightning, hurricane, or other disaster listed on the policy). It typically won’t cover floods, wildfires, mudslides, or earthquakes. For these, you’ll need separate policies. Personal Belongings Personal belongings are things like clothes, furniture, jewelry, sports equipment, etc. They’re covered under this section of your homeowners insurance policy provided that they were damaged or destroyed by one of the listed losses (typically fire, plumbing issues, theft, vandalism). If you have particularly valuable personal items such as expensive jewelry or art, it’s best to get a rider on your homeowners insurance to extend extra coverage in the event you need to file a claim, as the general coverage for personal belongings on a standard home insurance policy is limited. Liability Liability is relatively simple. It provides you with protection...
How Getting Tickets can Affect Your Insurance

How Getting Tickets can Affect Your Insurance

Nobody intends to go out and get ticketed by a municipal employee or a police officer, but it happens all the time. Whether you misread a parking sign, fail to notice a red curb, or change lanes without signalling, there are a multitude of ways in which you can find yourself the recipient of a moving or parking violation. Generally speaking, parking tickets will not affect your insurance rates. That’s because your insurance premium is calculated based on the risk you pose to the insurance company of filing a claim. The more likely you are to wind up in a situation in which you’ll need to file a claim for an auto insurance payout, the higher your premium will be. Illegal parking seldom, if ever, leads to a damaged vehicle; if and when it does, you’re probably out of luck regarding your auto insurance because parking where you weren’t supposed to is what lead to the damage – but that’s another matter entirely. The types of tickets that can have a significant impact on your auto insurance are moving violations. The types of tickets that can affect your auto insurance premium include speeding tickets, distracted driving, DUI, reckless driving, or other moving violations that represent a danger to yourself or others. Of these, tickets issued by police officers are more likely to affect your auto insurance rate than those issued by municipal employees. If you receive a ticket for one or more of these moving violations, it will stay on your record anywhere from 3 to 5 years, and getting more than one during this period can compound the...
What You Need to Know About Non-Owner Car Insurance

What You Need to Know About Non-Owner Car Insurance

If the term “non-owner car insurance” seems a little odd – you’re not alone. Most people tend to purchase insurance policies to protect things they own, not things they don’t. However, for some people, a non-owner car insurance policy may be just what they need. Essentially, non-owner car insurance policies were designed to provide liability coverage to people who don’t own cars but still drive now and then.  Non-owner policies can be handy for people in a variety of situations, including: Maintaining auto coverage – If you’re going to be without a vehicle for an extended period of time and want to maintain your auto insurance coverage in order to get the best price when you get a new car, a non-owner policy can help you do that. DUI Convictions – If you’ve had your drivers license suspended due to a DUI conviction and are looking to get it reinstated, you’ll need to fill out an SR-22 form. To fill out an SR-22 form, you need to have car insurance. If you don’t own a vehicle to purchase insurance for, but want to get your license reinstated, a non-owner policy is the way to go. You frequently borrow cars – If someone you know allows you to borrow their vehicle from time-to-time and you get into an accident, their insurance will typically cover them. However, if the damage to someone else’s property exceeds your friend’s insurance coverage, you will be liable for the remainder. With a non-owner auto insurance policy, you’ll have increased liability protection. The coverage provided by a non-owner auto insurance policy doesn’t have to stop at...