The cost of insurance coupled with an uncertain economy encourages cutting costs where we can. One common mistake people make is drastically reducing the homeowners or auto insurance coverage they have, or canceling their policy altogether. While this may seem like a good idea in the immediate future, in the long run this can end up costing more through out of pocket expenses. Instead of canceling your insurance, here are a few discounts to explore with your insurance company to reduce the cost of many homeowners and auto insurance policies.

Homeowner’s insurance discounts you may be eligible for:

• Safety Feature Discounts. – If you have indoor sprinklers, smoke detectors or other fire protection items, you may be eligible for a discount. These safety features make it more likely that your home will be less damaged in the event of a fire.

• Burglar Alarm – Installing an alarm system will not only protect your home and family, but it could also make you eligible for a homeowners insurance discount. Thieves will be deterred if you make it known that you have a system, making your home less expensive for the insurance company to cover.

• Age of home – If you are in the market to move, purchasing a newer home instead of an older one can save you on insurance. New homes are often constructed better and with safer materials, as compared to older homes.

Auto insurance discounts you may be eligible for:

• Multi-car discount – If you have multiple cars in your household, but they are under different insurance providers, you could save by consolidating all vehicles under one policy.

• Anti-theft system – If you have an after market alarm or LoJack system installed in your car, you may also receive discounts. Alarm and recovery systems make it a deterrent for a thief and easier to locate a stolen vehicle.

• Safe driver – If for a period of time you go without traffic violations or accidents, you can then apply for discounts.

• Good student – If you have a student driver that is also good in school, you can qualify for a discount.

To find out which discounts you are eligible for, you should contact your insurance agent. If you are in need of homeowners insurance or auto insurance, www.PoliSeek.com has many different insurance products to meet your needs.

This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.

No Fault Insurance is written into some state auto insurance laws to help reduce the costs of litigation. When a No Fault law is in place, it means that no matter who is at fault for an accident, each individual and ultimately their insurance company, is responsible for covering their own damages and losses. No fault insurance has the goal of reducing insurance premiums by avoiding litigation over the causes of accidents, while providing quick payments for injuries. The victim’s insurance company would only pay out the claim, while the driver-at-fault’s insurance company would pay out a claim and charge that individual a higher premium as they are now a higher risk.

If you live in a state that has a no fault insurance law, it means that you will be required to carry a certain minimum insurance coverage to be sure that you can pay for damages that may occur in the event of an accident. In most cases, the minimum coverages that you will have to carry are:

Injury/Property Damage (BI/PD)

Personal Injury Protection (PIP)

Property Protection Insurance (PPI)

Each no fault state will have some different requirements, so you will want to check with your state or your local insurance agency to know what the exact minimums are that you must carry.

For more information about no fault insurance or for a free quote, please call one of our experienced representatives at 866-540-7335, or get a free insurance quote online at https://www.poliseek.com/auto-insurance-quote.

This content is offered for educational purposes only and does not represent contractual agreements. The definitions, terms and coverages in a given policy may be different than those suggested here and such policy will be governed by the language contained therein. No warranty or appropriateness for a specific purpose is expressed or implied.