CUTTING
LOWERING INSURANCE COSTS - LOW COST SAVING MONEY ON INSURANCE COVERAGE -
POLICY INFORMATION FAMILY TIPS INFO GUIDE STRATEGY
- PRACTICAL
ADVICE IDEAS EDUCATION FREE ARTICLE
Be
careful not to cut your coverage too much if you
need it.
STRATEGIES TO CUTTING INSURANCE COSTS
When it
comes to cutting the cost of insurance, you need
to be resourceful, willing to consider all
options and dedicated to asking questions and
then asking more questions.
But being a
savvy consumer will not only save you money in
the year ahead but also save you money for many
years to come.
Tips
to Lower Insurance Costs and
Save Money
Get Multiple Quotes
In general terms, you can potentially
cut insurance costs by simply asking for quotes from two or three different
agents or companies. Competition in the marketplace means that companies are
in competition for your money. Use this competition to your advantage.
Combine Insurance
One way to cut your insurance cost is to learn if one company can meet two or
more of your insurance needs. Buying a combination of plans might reduce your
rates.
Professional Discounts
Consider what types of insurance might be available through a professional
association or other organization. Perhaps your employer has a special plan with
Triple A or are you becoming eligible for AARP?
Watch for Double Coverage
Don’t carry double coverage. You don’t need insurance on the rental car if it’s
covered on your car policy.
Check for Discounts
Be sure to make use of discounts for low risk behavior or safe practices.
Homeowner policies may offer discounts for homeowners who install various safety
measures. Health coverage is may be less expensive for non-smokers and those who
are not overweight. Be sure to check with your agent or policy for any discounts
that may apply to you.
Do you Really need the Coverage?
Is it time to lower the amount of coverage you have? If you have little debt and
adequate resources in place with no dependents then perhaps your life insurance
policy can be reduced or eliminated.
Make Annual Payments in Full
If possible, make one annual payment if it reduces administrative costs. Check
to see if online payments can help you to avoid processing fees.
Don't Cut Coverage Too Much!
Cutting costs is certainly one of the primary ways to increase the available
amount of money for savings and personal spending. Be sure to weigh the options,
alternatives, and possible impacts of making reductions or changes in your
insurance plans. Money spent on insurance is not simply money “out the window”
but rather an investment which protects all your other investments. The old
saying remains true: Don’t be penny wise and pound foolish.
To
teach and learn money skills, personal finance, and money
management, please go to the Money
Instructor home page.
Lowering your insurance
costs Tips
-
Cheap Life Home Car
Health Auto - Teaching
and learning insurance -
Less Free Low Cost Online
Quote Reduction - Adults -
Education - Help - Practical
Classroom -
Learn Insurance
Policy Saving Information
Be
careful not to cut your coverage too much if you
need it.
To
teach and learn money skills, personal finance, and money
management, please go to the