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I’ve been hit with the spring cleaning urge lately, and today I wanted to share my unique twist on it – spring cleaning your insurance.

I think it’s always a good idea to shop around periodically when it comes to things like insurance for your home and car. Things can change more frequently in these industries than you might imagine. This means there could be new opportunities for you to save on your coverage or even expand your coverage without significantly increasing your costs. I also think it’s wise to know a little more about what does – and doesn’t – affect the rates you pay.

I recently connected with Morgan Davis, an agent with American National Insurance Company, whose office is in Lakewood. I wanted to look specifically at how my coverage stacked up and whether she had any recommendations for me. Here are just a few of the things we discussed.

Insurance Tips for Current Homeowners

• Claims for “acts of nature” such as hail (i.e., things out of your control) typically do not raise your homeowner’s rates. This is true when it comes to your car rates as well.
• That said, you might still end up paying more after a hail claim. That’s likely due to losing a claim-free discount, which can feel like a surcharge. Claim-free discounts can often be as much as 15%-25%, so losing them can make a significant difference in what you pay.
• If you have replaced your roof, make sure your insurance company knows. This applies particularly when you are looking to switch from one company to another.
  • In Colorado, most companies offer a discount for homes with a new (1-10 years old) roof.
  • Most companies will offer a BIGGER discount if your roof has Class 4 Impact Resistant shingles. For example, my insurance company’s discount for this goes as high as 50% in year 12.

Insurance Tips for Prospective Homeowners

Morgan even had homeowner’s insurance tips for people who aren’t homeowners yet. Here’s just one of her recommendations: if you are buying a home, be sure to ask about the roof. If it hasn’t been replaced in the last 10 years (preferably 8 years), your offer to buy can include a request for the sellers to replace the roof. The cost can even be rolled into escrow at closing if the seller’s current insurance won’t pay for it! Claims on homes typically stay with the address. This means that even though the seller may lose a claim-free discount (if their company has one), it usually won’t follow them to their new home insurance wherever they move. ***If you’re wondering about the “rolled into escrow” part, give me a call. ***

Thanks to Morgan Davis with American National Insurance Company for these valuable tips. Connect with Morgan online at https://mlagents.americannational.com/morgandavis-16708/ or give her a call at 720-600-6036. Let her know I referred you.

As always, we are grateful for your trust in us and for your referrals. Reach out to me at jensellsco@comcast.net or 303-204-6494.