Homeowners Insurance premium is not Negotiable! Insurance companies hire the services of actuarial firms to calculate the premium necessary for each type of risk; the very skilled services of actuaries are crucial to the liquidity of an insurance company.
Some States require that the premium and underwriting structure be submitted to the Department of Insurance for approval prior to release to the public; other States simply require that the premium and underwriting rules are set in writing before release.
The only way to change the premium of a policy is to either qualify for a discount, change the deductible or change the limits of coverage.
It is a good idea to obtain your quote online in advance and with today's technology, you'd be able to change options and simply see the premium change as you change your desired options.
There is a link providing an online format to obtain a quote and buy home insurance online in multiple States; may be used by Escrow/Closing Professionals, Mortgage Professionals, Real Estate Agents and directly by Consumers. An exemplary online experience for all! http://bit.ly/1954BTO
With no disrespect, my response to this question might be slightly different.
Every insurer may have a rating structure they use to calculate a premium but rates will vary from insurer to insurer and one insurer may have several rating tiers they can use for pricing flexibility. So my response to this question would be, yes, you may be able to negotiate more favorable rating treatment if you request it. So don’t be afraid to pursue the availability of additional discounts, preferred rating treatment for good credit, recent structural upgrades, no prior claims, multiple policies with the same insurer, etc.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
While technically not “negotiating” a homeowner could take exception to the estimated cost of repair calculation. Companies will sometimes accept the letter of a licensed contractor who agrees in advance to repair a home for a specific price. Once the limits are agreed upon the insurance company must operate within the approved rating structure filed with the state insurance commissioner.
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Some States require that the premium and underwriting structure be submitted to the Department of Insurance for approval prior to release to the public; other States simply require that the premium and underwriting rules are set in writing before release.
The only way to change the premium of a policy is to either qualify for a discount, change the deductible or change the limits of coverage.
It is a good idea to obtain your quote online in advance and with today's technology, you'd be able to change options and simply see the premium change as you change your desired options.
There is a link providing an online format to obtain a quote and buy home insurance online in multiple States; may be used by Escrow/Closing Professionals, Mortgage Professionals, Real Estate Agents and directly by Consumers. An exemplary online experience for all! http://bit.ly/1954BTO
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With no disrespect, my response to this question might be slightly different.
Every insurer may have a rating structure they use to calculate a premium but rates will vary from insurer to insurer and one insurer may have several rating tiers they can use for pricing flexibility. So my response to this question would be, yes, you may be able to negotiate more favorable rating treatment if you request it. So don’t be afraid to pursue the availability of additional discounts, preferred rating treatment for good credit, recent structural upgrades, no prior claims, multiple policies with the same insurer, etc.