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Whether you own or rent, our Bellingham and Seattle home insurance agents have a home insurance policy to suit your needs.

• Home insurance
• Vacation home insurance
• Condo insurance, Renters insurance, Rental dwelling insurance
• Mobile & Manufactured home insurance
• Flood insurance, Earthquake insurance & Umbrella insurance
• Insurance endorsements available for Jewelry, Fine arts, Antiques & Collectibles

Your home is more than just a roof over your head. It is probably one of, if not THE biggest investment you’ve made in your life, whether you bought a home in Seattle or elsewhere. But did you know that it can also result in one of the biggest losses you might ever have? If you are improperly or underinsured, one bad accident, storm, or injury could cost you your home – and more. It's critical that you have the right kind - and right limits - of home insurance.

There are ways to get the right home insurance coverage without being “insurance poor.” The best way is by talking to an independent home insurance agent. Our independent Bellingham and Seattle home insurance agents will make sure you get the best deal possible by comparison shopping different companies. You can also take steps, on your own or with your home insurance agent, that will help ensure that you have the best possible chances of spending less money for better home insurance coverage.

Home Security

Some companies offer a varying degree of discounts for home security improvements. Insurance companies have been known to offer 5% – 20% discounts for having systems to prevent loss, such as:

• Smoke detector
• Burglar alarm
• Dead-bolt locks
• Sprinkler system
• Fire & Burglar alarms that dial the authorities or monitoring stations

Not all systems qualify for a discount, so it is important to find out what kind of system is recommended by the insurance companies, how much it would cost to have the system, and how much you would end up saving on your insurance premium.

Don’t Insure the Land

What you paid for your house is not the same as what your rebuilding costs would be.

The price you paid includes the land under your house. But you don’t need to insure this. The land isn’t going to be stolen, or burn down, or blow away. If you include the land on your home insurance policy, you are paying too much.

Annual Reviews

The cost of your home insurance is a reflection of what you owned when you signed up for the home insurance policy. If your computer is no longer worth the $3,000 you paid for it, reduce or cancel your endorsement. Don’t pay for what you don’t have!

Have you downsized, sold, or gotten rid of things in your home? Have you made major purchases? You should get a review and a new home insurance quote annually to check your limits and what’s covered.

The most common changes to watch for are in the endorsements to your policy, which cover items like jewelry and computer equipment. Conversely, if you have upgraded or purchased items, make sure they’re on your new home insurance quote!

If something happens and it's not on the home insurance policy, it won’t be covered. Worse, if an accident occurs in part because of your purchase and it isn’t on the policy, your entire claim could be denied!

Replacement-Cost Coverage vs. Actual-Cash-Value Coverage

Actual-cash-value coverage reimburses you for the cost of your property at the time of the claim, minus the value lost in depreciation over time, minus the deductible. This can result in a lower claim payout than you expect. For example, if your $750 TV is now worth $50, that’s all you’d get to buy a new one.

Replacement-cost coverage will reimburse the full value of an item based on the cost of purchasing a new one. The upfront cost is greater, but you are more likely to receive accurate compensation for your possessions. Make sure you keep at least two copies (and store one off-site) of:

• Receipts,
• Serial numbers,
• Photos, and;
• A Video recording of your possessions if possible.

Going Shopping

There are thousands of national insurance companies and several hundred Seattle home insurance quotes to choose from, and somewhere out there is the best policy for you.

The easiest, and often most affordable option is to have one of our Seattle home insurance agents prepare a home insurance quote for you. As independent agents, they are able to shop around for the best insurance coverage and premiums available to you.

Our Bellingham and Seattle insurance agents can help you with your home insurance, whether you're in Seattle, Washington state, Oregon, California, Idaho, Nevada, Arizona, or Alaska. We know insurance in the west, and we have the right home insurance quote for you.

But don’t base your choice on price alone – you should also consider:

• Coverage and limits
• Quality of service
• Promptness
• Claims service
• Resources & Tools made available to you
• Financial stability of company (should be “A” rated)

Raise Your Deductible

Deductibles are the amount of money you have to pay toward a loss before your home insurance company starts to pay a claim, according to the terms of your home insurance policy. The higher your deductible, the more money you can save on your premiums.

If you can afford to raise your deductible to $1,000, you may save as much as 25 percent. Remember, if you live in a disaster-prone area, your home insurance policy may have a separate deductible or separate insurance policy for certain kinds of damage.

• If you live in a state vulnerable to hail storms, you may have a separate deductible for hail…
• If you live in Seattle, San Francisco, or elsewhere in an earthquake-prone area, your home insurance probably excludes earthquake insurance. Talk to our home insurance agents to make sure you have or get coverage.

Disaster-Proof Your Home

Our insurance agents can help you with what you can do to make your home more resistant to windstorms and other natural disasters. By modernizing your home and reducing the risk of damage, you can often save money on your home insurance premiums. The most common additions are:

• Updating plumbing
• Updating electrical systems
• Adding a sump-pump to your basement
• Storm shutters
• Reinforcing your roof or buying stronger roofing materials
• Retrofitting your home to protect it from earthquake damage

Combine Policies

If you have more than one kind of personal insurance (home insurance, renters insurance, motorcycle insurance or car insurance), you can often save at least 10% by combining your policies with the same insurance company. Get in touch and start saving money today.

When Buying a Home

If possible to get a newer home, do. You can sometimes get discounts of up to 15% on your home insurance, because newer homes are less likely to have something go wrong with the electrical, heating, or plumbing systems. Plus, the home itself is usually in better shape than their older counterparts.

Discounts

Discounts vary from state to state and company to company. Common discounts on home insurance are senior discounts, employer discounts and professional organization discounts.

• Seniors are often retired, which means they are home more than working people. Because of this, they are less likely to be burglarized and may spot fires sooner. If you’re 55 or older and retired, you may qualify for discounts of up to 10%.
• Some employers and professional associations administer group insurance programs. These may offer better deals than you can get elsewhere.
• Membership in particular organizations can also get you discounts – insurers tend to look positively on membership to organizations that show you are vested in the safety of your home or the community. Ask your agent about what organizations are included for your home insurance carrier.

Stay with the Same Insurer

If you like your home insurance company and you’ve been with them awhile, it’s often better to stay put. Long-term policyholders get discounts. Common discounts are at the three to five (3 – 5) year mark and six (6+) or more year earmark with a home insurance company, which pull 5% and 10% discounts respectively. However, it never hurts to check periodically and get a home insurance quote.

Clean up Your Credit

A solid credit history can reduce your home insurance costs. Check your credit record on a regular basis and correct any errors promptly so that your record stays accurate and in good standing.

High-Risk Areas

If you live in a high-risk area and use a government insurance plan, call your local insurance agent. There are often steps you can take that will allow you to buy insurance at a lower price in the private market.

Choose Your Location Wisely

• Proximity to a fire station or fire hydrant.
• Home is in a community with a professional, rather than volunteer, fire department.
• Electrical, heating and plumbing systems are less than 10 years old.
• East coast typically has more windstorms. Brick or masonry homes are more wind
• resistant.
• West coast usually has more earthquakes, and wood-frame homes withstand earthquakes better.

Flood insurance and earthquake insurance are not part of your standard home insurance policy. In high-risk areas, you may be required to buy flood insurance. Earthquake insurance policies are also available at most insurance companies, and cost depends on the risk in your area.

Get a CLUE

Check the CLUE (Comprehensive Loss Underwriting Exchange) report of the home you are thinking of buying. These reports contain the home insurance claims history of the property and can help you judge some of the problems the house may have.

Quit Smoking

Annually, thousands of home fires in the U.S. are caused by smoking. Some home insurance companies have adopted discounts if all of the residents are non-smokers.

Electronic Payments

Many home insurance companies now charge up to $5 for mailed payments, so have your payments automatically deducted to shave that cost. Sometimes the deductions can come from your credit card, so you don’t have to worry if the money is in your bank account when payment time comes.

It is vitally important to make sure you, your family, and your assets are properly insured. Make sure you talk to an independent insurance agent. We will typically be able to get you the most complete home insurance coverage, and often, a cheap home insurance quote.

Don’t risk financial disaster - get the assistance of a home insurance professional to review your insurance policies. Our office will do it for free, with no obligation to buy.

At Balcos Insurance, we do this because we’ve built this business on our reputation. We’re all in this together, and the better service we provide you, the better it is for all of us. Please call us today. Ensure you’re getting the protection that you and your family deserve.