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Do you want to save on your home and auto insurance?

Posted by Scott Stueber on Aug 13, 2013 12:31:00 PM

In my last two blogs, I shared information from the Insurance Information Institute about  what’s covered on standard home and auto insurance policies. My goal was to provide you with a better understanding of the policies. Insuring your home properly is important because it’s your largest personal asset. Insuring your car properly is important because driving a car is one of the most dangerous things we do each day.  Today many companies focus on price and saving you money; however, it’s important to remember that if you focus only on price, you may be underinsured or your policy may be missing some important coverages.

 

Today Kim Bechler, West Bend Personal Lines underwriter, shares valuable information about West Bend’s Home and Highway® policy discounts.

These discounts, available on the auto portion of the Home and Highway policy, can add up to significant savings!

  • Good Student Discount – Many parents know adding a young driver to a policy can be expensive. West Bend, however, can apply a good student discount to your auto premium if you have a child between the ages of 16 and 24, who’s a full-time high school, college, technical college, or university student maintaining a “B” average or a 3.0 GPA on a grading scale.
  • Graduate Student Discount – This discount can be applied to drivers ages 21 to 24 who’ve graduated from college, technical college, or university with a cumulative GPA of 3.0 or higher.
  • Resident Student Discount – This discount is available to a youthful, unmarried male or female driver who’s a full-time student and who principally resides at an educational institution 100 or more road miles away from home (the auto cannot be with them).
NOTE: Home and Highway policyholders are eligible for only ONE of these three student discounts.

  • Multi-Car Discount – If we insure more than one vehicle on your Home and Highway policy, we’ll apply a discount to these auto coverages for each vehicle insured: bodily injury, property damage, medical payments, comprehensive, and collision The discount will also apply if the person(s) named as the insured(s) on the policy regularly uses a company vehicle that’s kept at the home.
  • Home Ownership Discount – If you own a home or condominium, you’ll automatically receive an additional 10% discount on the bodily injury, property damage, medical payments, comprehensive, and collision coverages on your personal vehicles.
NOTE: The Home Ownership Discount does not apply to motorcycles, motor homes, antique/classic vehicles, or utility trailers.

These discounts on the home portion of the Home and Highway policy can also add up to significant savings!

  • New Home Discount – If your home is ten years old or newer, we’ll automatically apply a discount to the home’s base rate. If your home is brand new, you’ll get a 20% discount; however, that discount reduces each year. 
  • Protective Device Discount – Your home is eligible for additional discounts if it has protective devices like a local burglar/fire alarm, police station reporting burglar alarm, fire department reporting fire alarm, central station reporting burglar or fire alarm, limited sprinkler system, or any sprinkler system. These discounts are applied after the protective devices are verified.
  • Hail Resistive Roof Discount – This discount can be applied to homes that have qualified hail-resistive roof material, such as UL 2218 Class 4 material or FM 4473 class 4 material. Most roofs that are steel/metal will qualify for this discount.
  • Umbrella Coverage Discount – If you purchase a personal liability umbrella policy as part of your Home and Highway package policy, we’ll discount the home base rate by 8%.

When looking for insurance, consider working with an independent agent who understands your insurance needs. Independent agents represent a variety of insurance companies and can help you find a policy that’s right for you. Everybody’s insurance needs are different and they need to be analyzed appropriately. In the world of insurance, “one size does not fit all.”

Topics: Auto Insurance, Home Insurance

 

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