The Lersch Group's Blog

6 easy steps to reduce cost of homeowners insurance

Consumers coping with rising prices for food, gas and electricity may want to explore ways to save on homeowner insurance. There are some simple ways to save money – and make your home safer.

Home improvement discounts

For starters, ask your insurance agent to provide you with a written estimate for each home improvement and make sure some of the discounts don’t offset each other. In some cases, insurers can’t provide all of the discounts when taken together because there would be little to no premium left to collect.

Remove structures

Remove or reduce additional structures coverage from your homeowner policy. Even if you don’t have a stand-alone shed or garage, they are typically automatically included in your policy. By eliminating this coverage you could save you about 5 percent on your annual premium.

Install alarms and locks

Installing smoke detectors, burglar alarms and dead-bolt locks could save you at least 5 percent, according to a report from the insurance institute. Consider purchasing higher-end security and sprinkler systems, since some insurers offer premium discounts of up to 20 percent for them.

Reduce damage risks

Update and/or upgrade your heating, plumbing and electrical systems to reduce the risk of fire and water damage, which are two of the most costly types of storm claims. For example, replace rubber hoses behind your washing machine with stainless-steel ones. You may have to pay a little more up front, but they are unlikely to crack or burst, which can cost thousands of dollars.

Simply replacing hoses is the single biggest item a homeowner can do to prevent major loss outside of a catastrophic event. Some (but not many) companies even offer a discount for having the proper hoses installed, but it’s worth it to ask your agent anyway.

Buy less or reduce your coverage

Consider reducing your home contents coverage, especially if you own items that are worth less now and you would be willing to buy second-hand to replace them. (That said, it makes sense to buy replacement coverage for your home. You want enough to rebuild it if a hurricane strikes, which may be more than the value of the home.)

Use mulch

Replace gravel or rocks on your lawn with safer materials such as shredded bark, said Tami Torres, program administrator for My Safe Florida Home. There typically aren’t discounts for this, but it would help prevent the rocks from flying and damaging your home or car.

Buyers and Renters Beware of Real Estate Advertising on the Internet

It is true, the internet is the way to go in getting the word out to prospective real estate buyers and renters these days. As Real Estate Agents, we frequently rely on services such as our own web site, Realtor.com, Craigslist and eBay to reach potential clients that are in and out of our local area. Like most people in today’s busy world, we communicate largely though email.

Unfortunately, there is a large array of scams popping up in multiple states that has many consumers feeling gun-shy about answering internet posted advertisements. Although this is not exactly hot-off-the-press-news to most of us, there are always new scams surfacing and a scam involving Craigslist is what has prompted us to post this blog.

The Craigslist scam, in short, involved a thief copying legitimate real estate for sale ads and posting a for rent ad with the thief’s contact reply to address instead of the owner/agent. By doing this, potential renters were contacting the wrong person, sending deposit money, and in some cases, rental applications with their income information and social security numbers.

So, we would like to offer a few tips that will (hopefully) help to protect our clients, colleagues, friends and family from internet fraud.

First, if it’s too good to be true, it probably is. Question the value. Question the sellers need to sell or rent quickly. Question everything. If the seller gets annoyed or seems bothered by your inquiries, move on.

Second, do your research. Playing dumb doesn’t work and is never a good excuse. If you don’t know how to research on the internet, find someone (a friend, relative, co-worker, neighbor) to help you. There are numerous resources available on the internet, some of which we will include at the bottom of this post. If dealing with real estate, be sure to look up the agency, agent, property, location, etc.

Third, trust your instincts. Remember that little voice that your Mom always told you to pay attention to? Listen to it. It may not always say what you want to hear, but it almost always will issue a warning when you’re heading in the wrong direction.

Forth, be protective of your money. You worked hard for it, so don’t just hand money to someone because you’re on the receiving end of a high-pressure sales pitch. Be extremely cautious when any seller insists on only being able to accept cash, money orders, or wire transfers. Any legitimate business transaction should be able to be handled through a variety of financial means. Use your discretion and yield to your comfort zone when handing over your money to anyone.

Finally, be resourceful. Shop around for the best price (while keeping all previous tips in mind). When shopping on the internet, stick to legitimate, reputable web sites. Always keep in mind that just because something is listed on a reputable site, doesn’t necessarily mean that it’s legit. Modern days thieves are extremely innovative and use, or have used, the top ranked web sites on the web. If available, check a users profile and/or feedback rating. Negative responses and ratings should serve as a red flag.

One rule that we, The Lersch Group, generally use in our internet advertisements is that we always try to include our direct contact information including name, business, name, email, phone number and/or web site. For real estate advertising, we want to make ourselves as available as possible to our clients and avoid using “reply to” email addresses that are automatically assigned. However, there are legitimate ads and sellers out there that do not provide any personal information and with good reason. It’s up to you to use your discretion when answering any online advertisement.

If you have questions or would like additional information about internet crimes, please visit the following web sites:

Federal Trade Commission www.ftc.gov

Internet Crime Complain Center www.ic3.gov

National Fraud Information Center www.fraud.org

Better Business Bureau www.bbb.org

Hurricane season is June 1 through November 30 - now is the time to prepare. Thankfully, Florida did not experience a major hurricane this past season. Click here to learn what you can do to help your home better withstand hurricane-force winds.

Wind Inspections. The My Safe Florida Home program offers eligible homeowners free wind inspections from qualified hurricane mitigation inspectors