How the Pandemic May Affect Your Homeowner’s Insurance

While COVID-19 continues raging across the country, the pandemic has made many people worry about their homeowner's insurance coverage. We've all seen how the pandemic has damaged the U.S. economy and it is affecting the insurance industry as well, prompting some to worry about large policy rate hikes or their ability to pay their premiums on time, if at all. There is also the possibility of increased costs of medical care due to how hospitals are having to work with non-COVID-19 patients, which could mean that any liability claims involving medical care could increase in cost. While the overall effects…

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Ten Ways to Reduce Your Homeowner’s Premium

With homeowner's insurance rates on the rise, you may be looking for ways to reduce your annual premium without skimping on coverage. After all, a large portion of your net worth resides in the same place as you do. But there are a number of strategies you can use to chip away at your overall annual premium, including: Raising your deductible - Your deductible is the amount of risk you agree to accept before the insurance company starts paying on a claim. As homeowner's rates increase, you may want to be willing to take on more of the risk yourself.…

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