Save Money on Insurance

Let’s face it, we have to have insurance.  Auto, home, health, life, etc.  But it doesn’t have to cost a lot of money to have these insurances, if you know what to do…Deductibles are one of the biggest ways to save on insurance.  If you raise your deductibles, this will keep the cost of your insurance down.  The fact that the insurance will pay less if there is a claim, is why they charge you less when you have a higher deductible.

If you have your auto insurance at company A and your home owners or renters insurance at company B, you might be paying more than if you had both of these insurances through the same company.  Most insurance companies will give you a discount for having more than one insurance with them.

Don’t get a credit life insurance.  This is insurance that you get through a dealership when you purchase a car or through your mortgage company when you buy your home.  It will pay off a loan or mortgage if you should die.  If you want this type of insurance, check with your insurance company and see what they can do for you.  It will be cheaper in the long run.

Don’t buy life insurance for your child(ren).  Some insurance companies try to sell this to you as a way of paying for your child’s college, but you will get more in interest if you start a savings account for their college than you will for this type of insurance.

Buying renters insurance is smart choice.  Anything can happen and this insurance will cover your expenses if you have to buy all new things.

Just like with renter’s insurance, there are certain things you can do to keep your home owners insurance down.  Check with your insurance company to see if you purchase a fire extinguisher your insurance might be lower.  Same thing goes for having alarms installed on your windows/doors, etc.  Ask your agent if there are things you can do that will keep your insurance costs down.

If you can afford it, pay your insurance premiums annually.  When you make payments, most insurance companies will charge you $1.00 or more extra for each payment.  This covers the paperwork, the time they have to spend, and basically, their costs.

So there are your simple tips to cutting the cost of your insurance.  Ask what you can do to cut your costs.  Most insurance companies will help you find ways to pay less, because it will keep you as a customer.