Insurance is a necessary reality for many people. For many it pays to have health insurance, specially if they expect to fall ill with expensive-to-treat ailments. For many home insurance is vital, specially if they live in high risk zones – like areas susceptible to storms. For many life insurance is necessary, specially if they have dependents. Similarly it may pay to have car insurance. Insurance costs can be sky high or you may find a way to lower costs.
How to lower the costs of home insurance
Simple things like clearing the brush from your property and adding a burglar alarm can go a long way in reducing homeowner’s insurance costs. You may qualify for a customer discount if you have been claim free for a long time. In addition you customer loyalty may be rewarded. Ask your insurance advisor if you qualify for such discounts.
Moving all insurance policies to one company can be rewarding as companies will reward you for holding all your policies with them. High deductible policy holders, similarly are rewarded by insurance companies. In addition upgrading basic house systems will lower your insurance costs. Similarly make your home more secure and get a better credit score to avail benefits.
How to lower the costs of life insurance
There are several ways to lower the cost of your life insurance. One is by maintaining a good driving record. This will remove about 25-50% extra costs that you might have had to pay with a poor driving record. If you haven’t been smoking for a year before applying for insurance you will pay normal premiums else you may have to pay double.
Staying in shape and fit has more than the obvious benefits. It can result in lower insurance premiums. Applying for the policy when young will lead to lower premiums. If you want to lower premiums on an existing policy, stop smoking and drinking, lose weight and drive safely. Apply these principles for a highly affordable insurance premium.
How to lower the costs of health insurance
By grouping together in local co-operatives you can expect to get better rates on insurance. Company wellness programs, similarly resulting lower insurance payments. Combine a health savings account with a high deductible health plan. Flexible spending debit cards are another way to reduce expenses. Disease management, through screenings and preventive care lowers the burden of the disease.
How to lower the costs of car insurance
Shop around is a mantra in all of insurance to get the best rates. This applies in car insurance as well. If you are smart you may save half your money by going with the best insurance company. Today it is very easy to compare rates of insurance companies on the internet. Consider insurance costs before purchase. Some types of vehicles cost more to insure than others.
If you can increase the cost of your deductibles you may save big on rates. A portion of this money can be set aside if you have to make a claim. Your credit score is very important. Increasingly credit scores are being used in rate calculations so keep this in mind. If you travel less per year you may be eligible for a discount. Ask about other discounts as well – like when your vehicle has certain safety features. Do not let coverage lapse.
If you want to truly save on insurance, whether it is health, home, life or auto, there are a number of smart options available today. Use these options in an optimum combination to save money – for the finer things in life.
Guest post by contributing author Kate Simmons, writing on behalf of homeinsurance.com.