It’s easy to become a creature of habit and simply renew your homeowners insurance policy when you receive a notice, but you could be doing yourself a disservice. There’s a good chance you could be saving money with a different insurance company. The notion of savings is worth investigating, but what exactly may prompt you to switch home insurance providers?

• Rising rates: If you haven’t made improvements to your home and your insurance policy’s benefits remain static but your premium continues to rise, it’s time to reevaluate your insurance options.
• Home renovations: Upgrades or remodeling may increase your home’s overall value, which can result in the need for more property coverage. Similarly, if you improve your home’s security (installing a security alarm, motion sensor outdoor lighting etc.), you may qualify for a safe home discount.
• Life change: Any big change in your life—marriage, birth, death, divorce, retirement, becoming an empty nester etc.—may change the amount of coverage you need. If you need more, it’s important that your agent makes the proper adjustments in case a covered event occurs. If you have too much coverage, you need to correct the issue to prevent paying too much.
• Poor customer service: You don’t necessarily want to choose the insurance provider that offers the cheapest rate. If that company has terrible customer service, it may be worth a few extra bucks to go with a company that will take your calls and accept your claims without haggling.
• Bundling: If you insure your house with one company and your car with another, you may qualify for a bundling discount if you insure both with the same company.
• Acquired property: If you save up to buy all new furniture or if you collect fine artwork, you may need more contents coverage then your policy offers as a standard. You can often increase the amount of contents coverage and/or add riders to your policy for valuable items such as jewelry or expensive computer equipment.

Apart from these instances, you should review your policy at least once a year to make sure you have the appropriate amount of coverage for a fair price. Don’t forget, your independent agent can help you find the best deal available, whether that comes from switching insurers or staying on your current policy.

Protect your home without breaking the bank. Call Pan American Insurance at (915) 562-0009 for a El Paso home insurance quote.