Ever considered going without insurance because the payments were too high for your tastes? Read ahead for tips on how to shop around and get a better deal on your insurance!
- Different types of cars or homes can come along with higher prices due to higher insurance rates. Sports cars typically carry insurance rates around three times higher rates than those that come along with a minivan, due to the higher risk factor of being in an accident or stolen. Different types of homes, too, can carry higher rates; areas that are more susceptible to natural disaster, such as coastal areas, are going to be more expensive to insure, as are older homes in comparison to newer homes.
- If you can manage to cover costs out of pocket and go with a higher deductible, chances are you can significantly reduce your payments; however, there is a drawback. If something should happen to your home or your car, it will be up to you to come up with the money. For instance, if you raise your car insurance deductible to $1,000 and then are involved in an accident, you will need to have the $1,000 handy. If you are the type to keep a decent emergency fund on hand, raising your deductible could work to your advantage.
- Oftentimes, there are very good discounts available to those would go with multipolicy coverage with one company. For example, purchasing homeowner’s and auto coverage from the same insurance company could provide you with a sizable discount. However, be sure to do your homework and check rates with other companies; if the package discount is on the low end of the spectrum, you may be able to shop for a better deal by purchasing through two different companies. Check around before you buy!
- There are plenty of different choices you can make that will give you lower payments on your insurance. Adding a security system to your home or things as simple as having a deadbolt on your door will provide you with a discount on your homeowner’s coverage. Car insurance companies offer discounts for people who drive less than the average, and for teenagers who take driver’s education courses and can give proof of good grades. There are monitoring devices available that give rewards for safe driving practices, as well.
If you want to find your best insurance rates possible, it’s important to do your research, play it smart, and give us a call here at Whedbee. We’ll help you get the coverage you need at a price that’s good for you!