Cut Your Insurance Costs Today & Save Money

One great way to save some money in your budget is to review your homeowners and auto insurance policies.  Having low deductibles and not shopping around for the best rates can be wasteful!

When my husband and I got married our insurance agent gave us a top notch insurance policy.  We felt good that we were covered fully.  But as time went on, we realized we were paying for unnecessary things and wasting our money on premiums.

After making a small homeowners claim after a storm, we realized low deductibles ($250) were not doing us any favors.  Our small $1000 claim increased our yearly insurance premiums over a period of years which cost us more than the claim itself.  We realized we would have to have a claim for several thousand dollars before it would be worth it.  The same went for our car insurance.

Here are a few tips to help you cut your insurance costs.

Tip #1
Increase your deductibles and pay for small claims yourself.  This will make a significant difference in your premiums!  It will be cheaper in the long run.  Increasing your deductible from $250 to $500 can save you 15-30% and going from $500 to $1000 can save you up to 40%!

Tip #2
Shop around for rates every few years.  Use your current policy to look for the exact coverage for less.  Having your homeowners and car insurance with the same company should qualify you for a discount.

Tip #3
Ask for low mileage discounts.  Most insurance companies give discounts for low mileage drivers.  I work from home, so one of our vehicles gets very low mileage.  We get a significant discount for this.

Tip #4
Ask your insurer what other discounts you could be taking advantage of.  There are a lot of them and chances are they'll find one for you that can save you at least a small amount.

Tip #5
Keep a good driving record and don't make small claims.  Small claims increase your premiums making it counterproductive to use your insurance at all.

Tip #6
Reduce collision and/or comprehensive insurance on older vehicles.  If you are paying for full coverage and your vehicle is only worth a few thousand dollars, you may need to look into this.  We all want to be covered in the event of an accident, but your coverage is only going to pay for the Kelly Blue Book value of the car at the time of the accident.  Reducing your collision or comprehensive will only reduce the coverage on your vehicle.  You will still have insurance covering the other accident and driver, should there be two vehicles involved, and you will still carry insurance on yourself and your family.

I encourage you to look into your insurance today and see what you can save!  Let us know if a simple phone call saved you money!