Now more than ever, you may be looking to save money on your home and auto insurance or even your business insurance. While there are a few ways to save on your premiums, you want to be careful you aren’t sacrificing coverage just to save a buck or two.
Most insurance companies do have many ways you can qualify for better rates, and some of them are better known than others. Here are a few tips for saving money on your insurance coverage, while still keeping yourself and the things that matter most protected.
Top Tips for Saving on Your Home and Auto Insurance
These are just a few tips on the best way to save money on your insurance premiums. Be sure to ask if you qualify for any discounts, in addition to these money-saving tips. Each company is different, so be sure to ask, you don’t miss out on potentially big savings on your premiums.
Shop Around—Just as with any major purchase, shopping around will ensure that you are getting the best deal possible. As an independent agent, we have access to multiple carriers and can take care of this for you.
Consider A Higher Deductible—A higher deductible will mean a cheaper insurance premium. If your particular financial situation allows you a higher deductible should damage occur to your property, you can save a considerable sum by using this tip.
Combine Policies—Most insurance providers offer discounts when you combine policies. This is a particularly popular option for the two insurance policies you most need—car and home.
Know If You Qualify For Additional Discounts—Some insurance companies offer special discounts for seniors, students, or employees of particular organizations. Checking to see if you qualify for any additional discounts could mean considerable savings.
Keep A Good Credit Score—Insurance premiums can be affected by your credit score, so ensuring that you have a good credit rating can reduce your premiums.
Use The Same Provider For All Your Insurance—Often insurance companies can offer you discounts if you have existing policies with them. This is also the case for financial institutions that offer insurance, as well as brokers.
Review Your Policy Often—A quick review of your policies and keeping your eyes open for better deals, or re-evaluating whether the type of coverage you currently have is more than you really need, can save you money.
What About My Business Insurance?
The above methods will work when it comes to saving money on your business insurance as well.
You may be able to reduce your premium for certain coverages by following your insurer’s loss prevention recommendations. These can include workplace safety, disaster preparation, and human resource intervention.
We know how important making every dollar count is. Here are some other budget boosting tips to help you save money where you can.
At Paradiso Insurance we are here to help you understand all aspects of your insurance. If you have questions about your coverage or your rates, don’t hesitate to give us a call today at 860-684-5270. Our insurance experts will be happy to help!