Smart Tips to Save on Insurance
Saving Money on Insurance is Easier Than You Think
Ah, insurance. We all need it because we all face the risk of loss in many areas – business, health, home, life. But the process of purchasing policies can be a little cumbersome. The payment doesn’t come close to what you would have to pay to replace what you’re insuring, but it’s always good to know if there are ways you can save money. Fortunately, there are, and they are pretty simple.
Choose an Independent Insurance Agency
One of the benefits of doing business with an independent insurance agency is that it provides lots of different insurance options from various carriers. So you can compare and choose the policy that best suits your overall needs.
Have a One-on-One with Your Agent
Conversations over the phone or via email can often leave out details that are important for you to make a decision. The best way to evacuate questions is to talk to your agent in person. This way, you can also find out about promotions or discounts that might not otherwise be available to you.
Go for a Higher Deductible
Most people tend to choose a lower deductible when purchasing an insurance policy. The thing is, the lower your deductible, the higher your payment will be. If you go for a higher deductible, you will likely save a significant amount of money on your regular payments.
Choose Less Frequent Payments
Monthly payments usually come with an extra charge for the convenience. If you choose to pay twice a year or once a year, your premiums are likely to be less expensive. People tend to stay away from this because it feels like their pockets take a big hit, but you can make it work by saving a fraction of the amount each month. It requires discipline, but it is worth it.
Avoid Insurance Claims
Submitting claims for every little thing will cost you more. Sticking to only making more substantial claims is the way to go if you’re trying to save some money. If you opt for higher deductibles, you will be more likely to avoid making smaller claims.
These simple tips are useful to help you save on insurance in general, but there are more specific ways you can save on homeowners insurance or even car insurance. Take your time to do the things that need to be done so that you can get coverage for less.