Home Insurance. Friday , February 23rd , 2018 - 14:39:39 PM
The rapid adoption of Wi-Fi enabled devices has allowed for an increase in what are called “non-monitored” systems. These are security systems that are set up in a home, but are not connected to an alarm company. While these types of systems do offer an additional level of home protection, they might not qualify for a discount on homeowners or renters insurance premiums. Check with your agent or carrier to find out more about what types of home security system installations might qualify for a discount.
Nineteen states and the District of Columbia have hurricane deductibles, according to the institute. Some states — including Alabama, Mississippi and South Carolina — offer a tax deduction for money deposited in special catastrophe savings accounts, to help homeowners set aside funds for their hurricane deductibles. Some policies offer discounts if homeowners use reinforced shutters to protect windows, or use special clips or straps to help secure roofs during storms.
Most homeowner insurance policies for coastal properties now have separate deductibles for damage caused by hurricanes, and the amounts are usually based on a percentage of the home’s insured value, rather than a flat dollar fee. Details of a policy’s hurricane deductible will typically be explained on the policy’s “declarations” page. Ms. Bach suggests that consumers call their insurance agent if they don’t fully understand what their policy requires, so they can plan for out-of-pocket costs in the event of a storm.
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