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Consider larger deductibles. Different property deductibles are available
for choosing; $250, $500, and $1000 deductible are available. Savings in
increments of 10% are commonplace per deductible.
Try to remain in the Voluntary Market! Insurance Companies reserve the
right to insure or renew properties. If you have had a few losses within
the past couple of policy years your insurance company may decide to not
renew you.
The MPIUA (Massachusetts Property Insurance Underwriting Association)
offers insurance to properties that are not insurable on the voluntary
market. The cost to insure with them is usually considerably more expensive
than the consumer will find on the voluntary market.
Some of the credits that are available to insurers are:
Protective Device Credits - starting with deadbolt locks, extinguishers,
and smoke detectors are available. Larger credits are available for Local
and Central Station burglar and fire protection systems.
Non-smoker credits - if you and household members are non-smokers some companies
offer discounts to non-smokers.
Loss Free Year Credits - if you have not had any losses in multiple years
some companies offer "Loss Free Credits." Check with your Independent
Insurance Broker to see if you qualify for any companies' programs.
Home Renovation/New Home Credits - if you have renovated your home within
the past 10 years some companies offer Renovation Credits. If you are buying a
new home, some companies offer large New Home credits.
Account Discounts - some insurance companies offer 10% "Account
Discounts" if you insure your home and auto with the same company . in
addition, some companies may waive service charges.
Shop Around!
Different companies offer different discount programs for different
properties and property owners. Shop around with different companies to see who
is offering the best deals. Your local, independent Insurance Broker uses
numerous companies to find you the best rates & service!
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