Save Money on Insurance

When it comes to insurance, people fall into two camps: pro (“You never know what will happen!”) and con (“Why spend on something that you’ll only benefit from when you die/something happens to your assets?”); these two views are very different from each other. While both beliefs come from a place of practicality, it really depends on your attitude if you believe insurance is for you.

If you are sure that you want insurance of any kind, you must know that there are ways to minimize your costs. Investing in an insurance plan is not everyone’s idea of saving for the future, but it’s definitely an important step in future-proofing your finances. Here are some ways that you could improve your insurance investment for yourself.

  • Compare several plans. While it’s definitely difficult to trudge through several tables of figures and some of the tiniest fine print in the world, comparing offers is a helpful way of finding the best plan for you. Insurance agents may know all the ways to tickle your fancy, but you know what is best for you. Don’t get swayed by the agent to buy into a life insurance policy when you know you only need and can only afford a term plan.
  • Review your payment amount and schedule. There are quirks to payment of insurance. You might find it easier to pay a certain amount on a certain month. Usually, the more convenient it is, the more it will cost you. Try to find the balance between the two extremes. Instead of a small payment every month, consider a larger payment bimonthly or so. You might see some small yet significant changes in your fees, while still maintaining the convenience of the plan.
  • Be cautious enough to avoid claims. You might be incredulous because of this statement - you might be thinking right now: “Then what was the whole point of getting an insurance?!” This is where you must review your frame of thinking: insurance should address your finances first and foremost - your health is always your responsibility. Getting claims from accidents and slip-ups dramatically affects the terms and benefits of next claims as well. Save it for when you really need it. Be careful always!

How to Save on Car Insurance

When it comes to purchasing auto insurance, grabbing as many discounts as possible is the most effective way to reduce your monthly premiums. Most of the major carriers offer similar discounts if you qualify but if you don’t ask, chances are they will not be offered. So, how to save on car insurance?