Home prices are rising. Whether it’s the result of lower interest rates, people from the north moving south, a housing shortage, or all three, something has made many families want to pack everything up and call a new place home.
How will this affect Tifton and the local areas of Albany, GA, Moultrie, GA, Valdosta, and Sylvester, GA? It’s always hard to tell the future. Will more people retire to our area? Is the change to remote working going to send more people to affordable areas?
How Is This Going to Affect Home Insurance Prices?
The good news is that home insurance is not always based on the market value of homes. Usually, it’s based on replacement value. If a storm caused a tree to fall on your roof, what is the price of local contractors to fix the roof? Now, we said “usually.” This does change carrier by carrier. Our neighbors to the south of us in Florida have seen a significant jump in home insurance. This jump is primarily because of hurricanes and roof issues. And, if a family were to be displaced while going through repairs, temporary housing could cost more than expected. We don’t have quite the same issues here, but it can probably be a warning to what might come.
What If Home Insurance Prices Start to Jump?
There are a couple of things we can do to help you lower the cost of your home insurance. The first is to bundle. We know you hear this a lot, but you won’t believe how much bundling can genuinely make a difference. If your different insurance policies are spread out among several carriers, you can get significant savings by bundling them under one carrier.
Raise Your Deductible
You have to weigh the pros and cons of savings with a higher deductible verse what the deductible for any claim would be. The final is to give us a call! At the Brownlee Agency, we love to help our local community with finding the right coverage that will save them money and protect everything dear to them. We have many different home insurance carriers we work with and would love to help out any homeowner in Tifton and the surrounding areas of Albany, GA, Moultrie, GA, Sylvester, GA, and Valdosta.