We’ve all heard by now that this is an unprecedented time with the outbreak of Coronavirus COVID-19. The continual refreshing of Social media will make you go crazy and no one truly knows the massive impact that we are going to feel from this for years to come. With small business closures continuing to happen and the awful feeling of job uncertainty increasing, I wanted to share one significant way that you can help lower one of your largest bills—your mortgage payment.
Mortgage payments are made up of four components: principal, interest, taxes and insurance. The principal portion is what you pay for your original loan amount. The interest is the cost of borrowing money and varies. The insurance portion is where Harris Insurance can come in to play for Florida Homeowners.
We are an independent insurance agency, meaning we work with and represent more than one insurance company. In fact, we proudly partner with 98% of insurance companies that write business in Florida. If they are not in our 98% it is because we have chosen not to partner with them due to their financial instability, poor rating, or poor customer and claims experience. At Harris Insurance, we promise to shop and compare every one of our 150+ companies with every quote request which is truly NOT the norm in our industry.
Every quote opportunity is important to us and if you haven’t shopped your Homeowners Insurance in the last few months, we would encourage you to let us shop and compare our available markets for your Florida Property as the marketplace is fluid (it never stands still). If everything looks good on your current policy and our companies rates aren’t better than what you’re currently paying, we will advise you to stay where you are and we will be ready to try again for you at your renewal.
We want to make it as easy as possible to request a quote for your Florida Homeowner Insurance, Renters Insurance, or Landlord Insurance. To request a quote in under a minute and have one of our agents reach out to you at your convenience, fill out this form. If you have your current policy handy, you can fill out our more extensive form here and email your Declarations Page to service@harrisinsurance.com or text a picture to (850) 244-2112.
If you are not in Florida, make sure that you are doing business with a local independent insurance agency. An independent insurance agency is one that represents more than one company which allows more options. You want a licensed agent who is well-versed in the industry and asks a lot of questions. Sometimes when we’re busy questions can be annoying, but the more answers your agent uncovers, the better they are able to work for you.
We hope that this has been helpful in understanding one way to lower your monthly mortgage payment. Below are some other practical things that you can do to keep an eye on your spending while you’re social distancing during COVID19:
- Dave Ramsey says that your four basic pillars of necessities are food, utilities, shelter, transportation
- Try to slow down the online shopping. Before you click “add to cart” ask yourself “Do I need this today?”
- Get rid of cable if you haven’t already. Knox and Jamie from “The Popcast” Podcast have put together “The Ultimate Guide to Cutting your Cable Cord” that you can download here.
- Watch what you’re eating- try to make recipes based on things that you have in your refrigerator and pantry first versus wanting to try a new recipe that requires a pick up or delivery order.
- Reduce electricity use. We’re all staying home right now but that doesn’t mean that you need every light, fan, and TV on!
- Consolidate your debt and lower interest fees. Americans throw away millions of dollars each month on interest charges when they overpay with credit cards. Call your credit card company and ask for a lower interest rate.
- Have a “Stop Spending” Challenge. You might have heard or seen some friends doing a No Spend Weekend or even Month. These small challenges force you to focus and be dedicated for a small amount of time. Little sacrifices equal big rewards!
We hope that you and your loved ones are staying safe and healthy during this time. We will get through this and we are thankful to be able to serve you since 1965 during the hard times as well as the great times. We would love it if you would take the time to share this with friends and family members using the links below.
LEGAL DISCLAIMER
Views expressed here do not constitute legal advice. The information contained herein is for general guidance of matter only and not for the purpose of providing legal advice. Discussion of insurance policy language is descriptive only. Every policy has different policy language. Coverage afforded under any insurance policy issued is subject to individual policy terms and conditions. Please refer to your policy for the actual language.
