So if you own a home and have a car or 2, you know that insurance costs can quickly add up. Inflaction has been rough, so what can you do? Fortunately, there are ways to lower your insurance premiums without sacrificing coverage. In this article, we’ll share 7 effective strategies for reducing your insurance costs.
- Bundle Your Policies – One of the easiest ways to save money on insurance is by bundling your policies. Many insurance companies offer discounts when you purchase multiple policies from them. For example, you could bundle your home and auto insurance policies to save money on both, and adding life insurance could save you even more.
- Increase Your Deductible – Another way to lower your insurance premiums is by increasing your deductible. The deductible is the amount you pay out of pocket before your insurance kicks in. By raising your deductible, you’ll lower your monthly premiums. However, be sure you have enough money set aside to cover the higher deductible if needed.
- Improve Your Credit Score – Your credit score can have a big impact on your insurance premiums. If your credit score is low, you may be paying more than you need to. To improve your score, check out this article: 6 Steps To Improve Your Insurance Score.
- Take Advantage of Discounts – Many insurance companies offer discounts for things like safe driving, completing driver education courses, and having certain safety features on your car. Be sure to ask your agent about any available discounts.
- Drive Fewer Miles – The more you drive, the higher your risk of getting into an accident. If you can reduce your annual mileage, you may be able to lower your insurance premiums.
- Maintain a Good Driving Record – A clean driving record is one of the best ways to keep your insurance premiums low. Avoid accidents and traffic violations whenever possible.
- Shop Around The Preferred Way – You’re busy and you don’t understand insurance. This is for our existing clients and people soon to be clients! We understand your situation, so we have created a very special insurance shopping service with these 3 goals.
- Do Your Shopping For You – We shop your insurance with 7 different companies so you are sure to get a great price.
- Save You Time – You make 1 call to us and we shop all those in about 30 minutes. Imagine calling 8 different insurance companies! We do the same for client service calls. We use a team approach to all but eliminate the hassle of phone tag.
- Get You The Right Plan – We talk with you, explain coverages, and ask about your situation. Give your family the protection it needs. Don’t pay for what you don’t need. One size does NOT fit all and Apples-To-Apples quotes just leaves you with rotten apples (quotes).
By implementing these 7 strategies, you can lower your insurance premiums, still have a great plan and keep more money in your pocket. Remember, it’s important to have the right coverage to protect your family and assets, but that doesn’t mean you have to overspend. Take control of your insurance costs today!