Whether you’ve seen it on the news, read about it, or just seen it in your own policy renewals – insurance prices are up right now. We’ve discussed the marketplace impacts that have caused these premium increases in a previous blog article.
These increases have caused many to wonder about ways to lower their insurance costs. Some have looked at reducing coverage or raising their deductibles, but these changes may only save you in the short term – and if you have a claim – will likely end up costing you more.
So, what other ways are there to be protected while offsetting insurance costs? Protection plans may be part of the answer. You’ve heard of warranties for your phone, electronics, appliances, and other similar plans. These protection plans are similar, but they offer additional benefits that may come in very handy for you if you have a claim.
These plans are not insurance, but instead, they provide compensation in specific amounts for a specific occurrence. As with warranties, and unlike insurance, events that are covered by these plans are typically not as commonly related to weather perils or accidents and may even more expected issues like damage from wear and tear. So, what do they cover?
All Vehicle Protection Plan
This plan can help you with deductible reimbursement, vehicle repairs, emergency travel costs, ID theft restoration, a warranty vault, and more.
Home Protection Plan
This plan can help you with deductible reimbursement, glass breakage, home lockout, appliance/electronic repair reimbursement, emergency lodging reimbursement, and more.
What’s better, these plans start at just $159 each, or $299 if bundled. That means for less than $300, you may be eligible to receive up to $1,000 on vehicle insurance deductible reimbursement and up to $2,500* on home insurance deductible reimbursement. This may provide you with a cost-saving option should you need to raise your deductibles, all without taking on as large of a financial risk if you have a claim. We’ve seen some clients take advantage of this as a way to offset rising costs.
Check out the options we offer for home, auto, or bundled protection plans at https://www.plummerinsurance.com/what-we-cover/plummer-protection-plans/ and discuss with our agents what might be right for you.
*one time