When you are trying to get good Maine Home Insurance then there are number of different areas that you should consider.
One of the most important of these is exactly how the insurance company decides on the premium that is appropriate for you.
Here are four factors that can directly impact on the cost of your Maine Home Insurance:
1/ Credit History
Your credit history is an aspect of home insurance and finances in general, that is not spoken about as much as it should be, because it really is very important.
If you have a poor credit history then the fact is that regardless of anything else, you will still pay considerably more for your homeowners insurance.
This is also not a small amount, but figures of up to a 50% difference in the premium between those with poor credit history, and those with a good credit history is fairly common.
So, ironically, one of the best ways to get much lower cost Maine Home Insurance is not by shopping around extensively for quotes (though that is also a good idea), but by taking steps to improve your credit rating.
2/ Doubling up on Insurance with the same Provider
This isn’t always the case, but it is commonly the case that if you take out multiple types of insurance with the same provider then you will be able to get a lower cost overall.
This will differ between companies in the levels of the discounts that they will give. But you should certainly be able to get some amount of money off for example if you take out auto insurance and Maine Home Insurance with the same company.
3/ Claim Filing History
Your insurance company is a business like any other, and whilst any reputable company will pay out promptly and courteously on any claim. They really don’t want to, because it costs them money!
The fact is that all insurance companies have a practice of profiling their customers and slotting them into certain categories.
One of these categories is how many claims someone has filed, and so if they see that you have filed for water damage or theft in your property on a number of occasions, then alarm bells start ringing (metaphorically speaking!) and you will immediately find it more challenging to get a competitive quote that doesn’t cost the earth.
4/ Length of time with current insurer
This is also a factor in the amount that a company will charge for your premiums, because all insurance companies work on the basis of long-term customer value.
They know that it will cost a certain amount of money to recruit a new customer, but they hope that those customers will renew their policies with the company, and that over a period of time they will make a profit.
A customer who stays with the insurance company for ten years is clearly a much more valuable proposition then one who normally only stays for a year, and so the company is likely to be willing to do more in order to secure the business of a customer who has already shown considerable loyalty.
In the end this comes down to hard dollars and cents, because they are simply more valuable.
There is more to Maine Home Insurance then may at first meet the eye, so shop around before making any final decisions.