Five ways to save on insurance products
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Shop around
Call or visit the Web sites of several insurance companies for quotes and compare them. It is a good idea to create a checklist and to see which companies offer the protection/coverage you need and which ones don’t. Price should not be the only factor to consider when purchasing insurance. Research and find reviews and ratings for each company before deciding on a policy.
Raise your deductible
Raise your deductible (the amount of money for which you are responsible before the insurance company pays your claim), to reduce premiums by up to 25 percent. The decrease in price is significant especially if you do not live in an area prone to natural disasters (as it pertains to homeowners and possibly vehicle insurance).
Maintain good credit
Quotes are frequently given based on credit history. By maintaining a positive credit history you may reduce your total insurance cost. The majority of insurance companies now use credit histories as a basis to provide quotes
Stay with the same insurer
Companies will often give discounts to long-term customers. The discounts provide incentive to stay with your current insurer. Be sure to ask if your insurer offers this type of program.
Bundle
Many companies offer a discount if you purchase various types of insurance through one provider. This may include your auto, homeowners/renters and flood insurance, among others. Bundling will also give you the ability to receive one bill, instead of a series of bills requiring multiple payments.
