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November 06, 2008

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Increasing your deductible is one of the best options. Most mtg companies require a max of $1,000 or $2500, so check with them first if you have a mtg. As a former HO underwriter, we looked very carefully at the policies that had lots of "zero paid" claims, especially when there was a small (less than $1,000) deductible. We would either force (yes, we could do that) people to take a higher deductible or look elsewhere. We were just waiting for "the big one".

With regards to paying promptly, when you are late, it invites the underwriter to review your policy. They do not have to accept a late payment, especially if you went without coverage for even a small period of time.

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