The U.S. government employs thousands of individuals, both at home and overseas. While many of the jobs are located in Washington D.C. and the surrounding area, there are federal positions available across the United States. These range from prison guards and postal workers to nurses and mechanics. There are many direct and indirect benefits to working for the government, including reduced premium payments on insurance. In fact, many insurers offer a federal government home insurance discount to federal employees.
Steps to Take
The discount can vary, depending upon the insurance company offering the premium reduction, and their specific requirements for qualification. It’s easy to find out whether or not you are eligible for a discount. Just follow these simple steps:
- Contact your independent home insurance agent. They will have the knowledge and experience to figure out which insurance carriers offer the discount, and whether or not the reduced price makes the homeowner’s policy a good value. Remember- you don’t want cheap insurance if it means less protection when you need it the most.
- Provide your independent agent with documentation. Your agent will need to know if you are a current federal employee, retired, or the family member of an employee. There are other caveats to qualifying as well. For example, many insurers that offer a federal government home insurance discount require the employee to be ranked at GS-7 or above. This simply refers to the General Schedule for pay within the government. GS-1 through GS-6 are typically internships, student jobs, and entry-level positions. So, in general, most federal employees looking for a home insurance discount should have no issue.
- Show your membership card. The federal discount is often also available for members of certain federal organizations, like the National Federation of Employees, the Federal Law Enforcement Officers Association, and the Federal Bar Association. Your insurance agent will be able to verify your membership to the carrier in order to grant you a discount.
- Start receiving a discount! Once you have proved that you are a federal employee or a member of a federal organization, the discount will be applied to your annual home insurance premium. The discount may range between 5 and 20 percent, depending upon the carrier and eligibility requirements.
There may be other discounts available through your home insurance carrier. Often, you can combine discount offers for an even greater reduction on your annual premium. There are offers based on where you live, like the gated community and homeowner’s association discounts. Others depend on materials installed at your home, like green home technology, protective devices, hail resistant roofing, and storm shutters. While other discounts are offered simply based on your personal information, like the good credit score discount and the senior citizen discount.
When you meet with your independent agent regarding the federal government home insurance discount, they will be able to answer any questions you may have regarding other available offers.
Before you speak with your independent agent about a federal government discount, make sure that you have a home insurance policy in place. The discount can always be applied after the policy is in place. Having home insurance is incredibly important. If you have a mortgage on your home, your mortgage lending company will require that you at least insure the unpaid balance. However, having 100% of the value of your home insured will mean that if you experience a large loss, then your claim will be covered.
Home insurance protects against a wide variety of risks associated with owning your own property. This includes bad weather, theft, vandalism, and liabilities. So, if hail damages your roof, a thief steals your computer, or a guest falls and breaks their leg, your insurance will help to cover the replacement, repair, and medical costs. Contact your agent before it’s too late.
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