Insuring homes and autos in 2024 is much different today than it was just 4 or 5 years ago. A lot of the change has been driven, no pun intended, by increases in both labor costs and material costs. These as we know were created by the Pandemic related supply chain issues, and of course labor shortages in many US industries these days.
So you might say, “great to know, but I hear this on the news”. Very true, you do often here this data cited by many different news sources. What I’m going to share with you are some tips to trying to minimize increases for your family.
For your home this list will not be exhaustive but start you in the right direction. These are things you should discuss with us when you call.
- Updates to your home (roof, heating, air, plumbing, additions or alterations).
- Installation of water monitoring devices or alarm systems or both.
- Changes you’d be willing to make to your deductible. Increasing your deductible can help you save money.
- Tree work you may have done to remove trees from beside your home or away from your roofline.
- Any business pursuits you are doing from home.
- Claims history and credit score changes.
- Do you have other properties, or autos that can be bundled with your home to obtain discounts from the Insurance Company?
For your Auto Insurance savings will also not likely occur these days the way it could just a few years ago. The higher cost to replace and repair vehicles, along with large bodily injury verdicts across the country have driven rates higher for everyone. That said here are some things you can do to try and help in New York.
- Take Defensive Driving every three years! (Each listed driver in your home needs to take the course). It’s available online and many States have discounts available once it’s taken.
- Avoid getting speeding or other traffic tickets.
- Look to increase deductibles for comprehensive and collision coverage.
- Let us know when a driver is no longer in your household or using your autos. We can help your kids get insurance once they have moved out on their own.
- Let us know if your kids are away at school with no car, and if they are good students grade wise, discounts may be available.
- Ask about Telematics, some Insurance Companies offer products that have a cell phone application or other device to track your driving patterns and apply discounts for safe drivers.
- Bundle your renters, condo or home insurance with your auto for multiple policy discounts that most insurance companies offer these days.
Not sure and want to discuss? Give us a call Monday – Friday 8:30 am to 4:30 pm to ask one of your many knowledgeable staff members. 845-561-1706 or visit one of our offices.
