We like to save money! Whether it’s clipping coupons, shopping for a car or doing your research, we like to save when possible. Insurance provides protection against financial loss and is often required either by your financial institution or law. Here’s some tips to save on your insurance:
- Bundle your home and auto insurance. Many insurance companies offer generous discounts for bundling more than one policy (typically a home and auto policy), up to 35%!
- Tell your agent about home improvements. If you have recently remodeled, installed a new roof, alarms, generator, security cameras, or automated water shut off valves you may be able to receive premium savings.
- Increase your deductible. If you have a low deductible, consider the savings of having a higher deductible such as $2,500 or $10,000.Increasing your deductible can sometimes result in significant savings.
- Review your policy regularly. Do you know what you are insuring? The cost to replace your home has likely increased over the years! Regularly reviewing your policy with your insurance agent helps provide a more accurate picture of your current needs. You may be paying for coverages you don’t need!
- Ask about discounts! Sometimes the simplest idea is the best. There are a wide range of discounts available and you won’t always know about them unless you inquire! Asking smart questions allows your agent to work more effectively on your behalf. The more information we have, the better we can assist you.
Not all policies are created equal. Needs change over time and every customer is different. Make sure you have a thorough conversation about your needs, including your ‘toys’ with your insurance agent. You may need to increase your liability protection with personal umbrella coverage. It’s quite possible by reviewing your entire insurance program, you could save enough money to include that umbrella coverage. Cost is an important factor, so is reducing your risk. Being smart about how you allocate your insurance dollars is often more important than how much you save!