News Column

Ivo Labar, Kerr & Wagstaffe, Responds to Common Home Insurance Discounts

Jan 22 2013 12:00AM



SAN FRANCISCO, CA -- (Marketwire) -- 01/22/13 -- According to a recent report from Fox, homeowners seeking discounts on their insurance rates are hardly at a loss for options. The ways in which homeowners can save on their insurance rates are numerous, and growing more so all the time, as insurance companies compete with each other to attract new customers. Not all home insurance discounts are created equal, however, and, according to Ivo Labar, Kerr & Wagstaffe partner, some of them are better off avoided altogether.

Ivo Labar is an attorney with the San Francisco law firm, and his area of focus is in insurance law. Labar blogs regularly about topics related to insurance law, seeking to educate and enlighten homeowners about their legal rights as insurance carriers. He has also issued a new statement to the press, commenting on the Fox report and urging homeowners to be careful when considering insurance discounts.

"Consumers should not be penny-wise and pound foolish," cautions the attorney. "A homeowner should not try and earn a 'discount' on a policy if it comes with burdensome conditions that will later give insurers a loophole if the conditions were not strictly complied with."

The Fox report notes that many of the more common sources of homeowner insurance discounts are well-known. Installing smoke alarms and a home security system can often yield discounts, for example, as can choosing to bundle auto and home policies. Though these discounts are tried and true, there are other methods of saving money that are less well-known, and equally deserving of consideration and caution.

A few of the more reputable discounts, which pop up from time to time, include discounted rates for seniors and for non-smokers. Inflation adjustments are also possible, and some insurance carriers offer discounts for brand new homes.

The Fox report encourages consumers to review their policies regularly, and to periodically check with their agents to see if new discounts exist. While discounted rates for smoke alarms and security systems are fairly consistent, other deals come and go -- and while many of them can be misleading, some of these more basic ones are worth watching out for.

Ivo Labar, Kerr & Wagstaffe attorney, encourages homeowners to communicate with their agents about these different discounts, but also to exercise caution and discernment.


Ivo Labar is a partner at the Law Firm of Kerr & Wagstaffe, which is based in San Francisco, California. With the rest of the legal professionals at Kerr & Wagstaffe, Ivo Labar provides clients with guidance regarding diverse legal cases, including those tried by state and federal courts. Additionally, Ivo Labar and the rest of the Kerr & Wagstaffe team take on cases for plaintiffs and defendants. Labar is interested in a wide range of practice areas, but he specializes in complex litigation cases. Class action lawsuits, victims' rights, and insurance policyholder rights are of particular interest to Labar. Since starting his career, Labar has assisted clients in recovering over $25 million in settlements and verdicts. He graduated from the University of California Hastings College of the Law.

Source: Marketwire