Homeowners Insurance Premium Dropped!

November 19th, 2006 by Grant in: Insurance
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I just received our annual homeowners insurance renewal, and to my surprise, USAA is actually reducing our premium by just over $150!

Accompanying the new premium was a letter stating that USAA has recently changed the way they calculate the premium to ensure the premium reflects the risk our policy presents to USAA.

A few of the factors they used to calculate the new premium:

  • Previous property insurance claims (we’ve had none)
  • Length of time we’ve been covered by USAA
  • The fire protection against our property
  • Age, location and construction features of our home
  • It’s nice to see the insurance company is sending our premiums in the right direction, and this reminds me that we need to inventory our personal belongings and make sure we’re fully covered.

    Since our budget is based on the old premium, we can definitely take advantage of additional coverage, should we need it.

    4 Comments

    1. Al Readamen

      Wow! An insurer that actually LOWERS rates? I’ll have to check out this USAA. AL

    2. Grant

      Check them out, Al. I haven’t found anyone better with lower premiums. To become a member in USAA, you must be in the U.S. military or have a close relative that IS/WAS in the military and a USAA member themselves.

      Let me know what you think of them.

      -Grant

    3. Lisa

      I have to check out USAA too! Sounds like you’ve got yourself a great insurance company.

      I also heard from somewhere that they send out dividend checks each year too just for being a customer? That true?

    4. Jon

      USAA ROCKS! I got the home and cars insured through them and they cant be beat.

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