Categorized | Insurance

Tips on Getting the Best Insurance Rates

Finding car insurance, life insurance, or health insurance can often be a challenging process. Insurance premiums are not cheap and finding an affordable plan that will cover your financial needs in the event of an accident or emergency is going to be a long process. This process must involve a lot of research and negotiation in order to get the best rates and to really force the insurance companies to compete against one another for you.

Tip # 1 – Search for a trustworthy insurance agent

In order to get the best premiums and coverage limit you need to find a trustworthy insurance agent. While they may promote their company, they will likely give you information about other insurance companies as well. An independent insurance agent is your best option as they will be able to give you information about all of the various types of insurance programs that are out there as well as information pertaining to costs and coverage limits. With an independent agent you are given more attention and you will find that you actually learn more information than what you will get from dealing with a single insurance company.

Tip # 2 – Learn about discounts

One of the best ways to save money on insurance is by finding out which insurance companies are going to offer you discount programs. Look for companies that will offer discounts when you combine your policies along with insurance companies that have additional discounts for things like safe driving records, healthy physical wellbeing, long-term customer discounts, etc. If you see promotions for discounts, contact your insurance company to see if they will match these discounts so you can save even more money on your insurance rates.

Tip # 3 – Negotiate for better rates

In order to save money on all of the various insurance plans that you have, it is important to take time to negotiate with the different companies to get your rates reduced. Contact your agent and review your policy and consider dropping the coverage limit on your homeowners policy or switching to a liability only plan for your car insurance. This is a great way to really cut your costs for insurance and to get generous rates that are much more affordable for you to deal with. If your insurance company is giving you the run around and won’t give you a better rate, you might try threatening to leave and move to a different company. Many times insurance companies will offer a deal if they know you are planning to change to a different provider.

Tip # 4 – Change to a higher deductible

A great way to save money on your insurance is to adjust your insurance to a higher deductible plan. The higher deductible plans are ideal for anyone that has a safe driving record or for individuals that rarely use their insurance. Changing from a $200 deductible to a $1000 deductible can cut your monthly premiums significantly.

Tip # 5 – Keep your credit in check

Insurance companies often check on your credit history when they are raising their rates and renewing contracts. In order to keep your rates under control you need to focus on managing your credit effectively so you can be eligible for the best rates.

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