What if I told you that there are a few things that you can do that can reduce how much you pay in insurance premiums? Yes, you can get how much you pay down by up to 25%, and not by doing anything crooked either. The brilliant thing with these methods is that they allow you to straighten out your finances as you go through them.
Before we mention them, let’s talk about reducing insurance costs. Some people wonder why it’s important to keep insurance premiums low. After all, you’re securing your assets against future loss and you want to be as secure as possible. This line of though may lead you to choose an insurance cover that will cost more, but that is not right. The deciding factor must always be what percentage of the insured item value they are willing to pay in the event of loss. And because insurance is such a competitive industry, companies fight to keep their premiums low so that they can attract customers. Always go for low premiums, lots of benefits and discounts, but make sure that the compensation value offered makes sense.
Ok, here are things you can do to reduce your insurance premiums by up to 25%:
1. Get and clean up your credit report. A good credit report is one of the things that you can present to your insurance company and ask them to lower your premiums. It shows that you are financially responsible and that they can rely on you to take care of your assets.
2. Are you buying a property that will need to be insured? How about looking for a good location for it? You don’t have to live amongst Hollywood superstars – the idea is NOT to buy in a poor location. A poor location is one that’s unsafe, where there are burglaries, homicides or where properties are run down. You’ll be charged a lot because the chances of something going wrong are rather high. Settle instead for a quiet, safe location.
3. For car insurance, just taking a senior’s driving test can save you a chunk – its proof for the auto insurance company of your ability to drive.
4. This is no reason for you to run off and get married, but insurance companies do offer married people lower premiums. You should not omit this information as you fill out your forms.
5. Alarm devices in your car will help you to get lower premiums too. When you have them installed, save the certificate and present it to your insurer. This, by the way, is a significant way of saving on car insurance premiums that many people overlook.
6. If you have more than one car, get them all insured by the same car insurance company; you have a very strong case for a discount.
7. Make sure you are consistently insured. Insurance companies are wary of gaps without insurance and they will think you have been neglectful and may charge you more as they consider you high risk.
8. If you are homeowner in a neighbourhood where there is an association, buy through the association. You will pay less in premiums.
9. Shop, shop and shop some more before you buy insurance covers so that you can get low premiums.
10. Lastly, find out about each and every benefit and discount that your current insurance company offers. You may be surprise that there are some you can claim that you don’t know about.
There you go – 10 ways that can help you reduce your insurance by up to 25%. Make sure to use some, if not all of them and save some money!