When driving up and down the streets of Blue Bell, PA, someone searching for a home would find a large variety of sizes and styles. The quaint city, a northwest suburb of Philadelphia, was originally known as Pigeontown, after the large flocks of the now-extinct passenger pigeons that once gathered there. The town was renamed in 1840 after the historically prominent Blue Bell Inn.
Considering the wide range of size of homes in Blue Bell, PA, it's important that homeowners understand the best way to insure them against fire, storm or other liability damage. Having the proper coverage can give extra peace of mind, while not wasting premium dollars.
Here are five (5) ways to save money on your home insurance in Blue Bell, PA. Homes in Blue Bell vary in size from small town homes to much larger structures. Home insurance policies usually include basic fire, storm and extended coverage on both your dwelling and your personal property, and family (personal) liability coverage, as well.
1. Know your policy coverage options. Your dwelling may be insured for "all risk" coverage, which is defined by its exclusions, or "named peril" coverage which actually lists the perils against which your dwelling is insured. There is a cost difference to these choices, which means an opportunity to save money. Check your policy details for more information on "all risk" or "named peril" coverage.
Ideally, you want your policy to provide adequate coverage for your home, but you should not spend money for coverage that you don't need. You may have personal items that depreciate over time; therefore, consider whether you want to pay for "replacement cost," rather than "actual cash value" coverage. Also check your policy for any additional "riders" or "floaters" that you may be paying for. For the different range of sizes of homes in Blue Bell, PA, make sure the policy coverage matches the need.
2. Raise your policy deductible. The deductible is the amount you will pay at the time of a covered claim. On average, most homeowners will file one claim every 8 or 9 years, with many going longer than that. The annual premium difference between a $250, $500, or $1000 deductible (or higher) may justify including the higher deductible on your policy. In Pennsylvania, the home insurance deductible can be as high as $5000, which will save even more on the premium. This coverage is not intended for smaller claims, and therefore, the benefits of a lower deductible can be quickly dissolved by the potentially higher rates that you will experience after making a claim. As home insurance is intended to cover against more substantial loss, consider higher deductibles to reduce your premium.
3. Combine this policy with another line of insurance with the same company. Many insurance companies in Pennsylvania will offer 10% to 20% discounts on your home insurance policy if you also purchase, for instance, vehicle insurance from them as well.The combination policy discounts are usually included on both policies. Especially for higher value homes (larger structures) in Blue Bell, the savings can be quite significant.
4. Add security features to your home. Most security features that will prevent theft or alert local fire or police directly, will help save money on your policy premium. The installation of dead bolt locks on all outside doors, smoke detectors on every floor, storage of a portable fire extinguisher, and security systems with automatic notification of police and/or fire officials, will provide significant discounts on your premium. Some insurance companies in the Keystone State will reduce annual premiums by as much as 20% if you install some of these items.
5. Update with home improvements. Depending on the age of your home, replacing the wiring, plumbing, or heating systems may help you save money on your home insurance premium. Newer systems present a lower risk for insurance companies, and many will offer premium discounts if you've renovated or made home improvements in these areas. Since many of the homes in Blue Bell, PA are older, home improvements will surely help reduce policy premium.
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