There are a lot of tips on how to save money on insurance. Insurance of any kind (health, car, home, etc.) can be one of the most expensive bills you pay. So it’s really important to try to get the best insurance rates possible.
6 Tips For Saving Money On Insurance
Different Insurance Companies And Different Insurance Rates
You might think that most companies will determine your price the same way but that isn’t necessarily the case. All insurance companies have different ways of determining prices and they don’t always use the same criteria. So it’s a good idea to get quotes from as many companies as you can. InsuranceQuotes.com is a good place to quickly compare insurance rates. You can also contact companies directly to get a quote.
Consider The Insurance Cost Of Buying A Car
When people buy a car they often don’t factor in how much insurance will cost. It will be different depending on the company you buy insurance from, what type of car it is, and it’s safety record. You might even end up paying a higher rate if you live in an area known for crime. So it pays to shop around.
And aside from that, depending on your lifestyle and where you live, you may not even need a car. So consider whether or not you live in a walkable town, if there are services like Uber or Lyft, and whether or not you live near a car rental place.
Multiple Insurance Policy Discounts
Some insurance companies will let you combine insurance plans at a discount. For instance, with some companies, you might be able to combine home insurance with auto insurance. Or you might be able to put different cars into one policy. This can help you save money on insurance especially if you have a lot of things insured.
Raise Your Insurance Deductible
You might be able to save money on insurance by raising your deductible. This will be bad for you if you’re actually in a wreck because you’ll pay more. But if you are a safe driver, increasing your deductible could cut up to 40% of the cost from your comprehensive coverage plan.
Save Money For Being A Safe Driver
Some companies offer discounts for being a safe driver or they’ll reward you every so often because you didn’t have any driving accidents. If you’ve ever taken any kind of safe driving course that might help you as well. When I was in high school I took a driver’s ed class which helped my parents get a lower rate when they added me to their car insurance.
Become A Paperless Customer
This is actually becoming more and more common, not just with insurance companies but with companies in general. Many companies will give you a small discount if you agree to be billed through e-mail or if you sign up for automatic payments.
Save Money On Insurance By Exercising
Some health insurance companies will give you a discount for working out or being a member of a gym. You might need a fitness tracker like Fitbit to take advantage of this though. But that’s a great way to save money and get healthy so it’s a double win.
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