Let’s talk about how much you spent on insurance. Boring, of course, this is not a wonderful topic. But what if I told you that buying insurance can save you hundreds of dollars a year. You might say I sound like GEICO’s ad. This is accurate. But the fact is that if you want to reduce the cost of living and save more money for the future, buying housing and car insurance is one of the fastest ways to cut annual expenses.
Cooperate with many insurance companies every year or two
The pricing model of insurance companies changes over time. The company you bought a few years ago may be cheaper today than a few years ago. Buying insurance from several well-known insurance companies is the most reliable way to save money.
I found that the easiest way to buy insurance is to find an insurance broker. In fact, I have talked with two agents in the past and got a lot of offers. They immediately knew that for people like me, those insurance companies were most likely to get high insurance at low rates. In fact, one of the agents mentioned that a company she doesn’t represent is probably the best for people like me. She was right. Finally, I got a quotation from that company, which is the best combination of price and coverage. Shopping and buying insurance every two years can easily save you hundreds of dollars a year.
Set higher deductibles
One of the biggest mistakes people make in insurance is to set low deductibles. If you have a small accident, you’d better have savings to insure yourself. When you have a $500 deductible, filing a $1000 loss claim is a bad move – but many people do. Increasing your deductible will create an obstacle that prevents you from making claims that will eventually increase your rate.
We have determined that filing a claim will increase your insurance rate. But in addition, it may damage your ability to obtain insurance in the future. Every time you file a claim, the insurance company will write this information on your c.l.u.e. report. That sounds strange, doesn’t it? C. The l.u.e. report is an industry summary of your claim history. When you do the above shopping tasks, the insurance company will check the report to see what claims you have made. Of course, the less the better. So, set your deductible higher and be ready to insure yourself for small claims. Consider your coverage as “worst case” coverage.