Auto Insurance Quotes ~ 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.
