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“Insurance business is about promises and trust. It is about delivering to the customer in times of need and if this cannot be imbibed in a professional neither him nor the industry will succeed.” ― Tapan Singhel
TIPS:
Always consider companies that have been rated "A++" by A.M. Best to make sure you are buying from companies that have the highest financial strengths
Bundling: purchase different types of policies from the same insurance company will help you reduce your total cost
Shop around and compare prices can vary considerably
Install safety features on your home or rental like smoke detectors, dead bolts, alarm systems, storm shutters, shatter proof windows or roofing.
Being a non-smokers or retired reduces the risk for insurers and will qualify you for discounts
Raise your deductibles if you can afford it
Maintain good credit will affect the rates that you pay for home, renter's and auto insurance. Having poor credit can actually cost you to pay double premium
Ask about any discounts that you are not taking like bundling your home and auto insurance
Be a loyal customer.... and let them know that there are better deals around and ask them to reward you with a good deal.... shop around and let them know that there are better deals out there
How to Waste Money on Insurance:
How to Waste Money on Insurance:
Get a cancer or accidental death policy.
Buy variable universal life insurance.
Keep your deductibles low.
Purchase the cruise line’s trip insurance.
Purchase car rental insurance.
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Want to make more rational decisions? Keep in mind these 11 rules of insurance:
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PolicyGenius: Insurance advice, quoting and shopping made easy: makes it easy to get all your insurance done with simple online tools and expert help.
PolicyGenius: Insurance advice, quoting and shopping made easy: makes it easy to get all your insurance done with simple online tools and expert help.
Quotacy offers instant price quotes after filling out a brief application without requiring contact information. The experts look at different policy options from several life insurance providers to find the best deal for their clients on term and permanent life insurance policies.
A.M. Best Company provides news, credit ratings and financial data products and services for the insurance industry. Make sure they are rated A++.
A.M. Best Company provides news, credit ratings and financial data products and services for the insurance industry. Make sure they are rated A++.
Car Reviews, Ratings & Awards | J.D. Power J.D. Power ratings, reviews and awards are based on hundreds of thousands of verified car-owners' input regarding quality, dependability, performance, the dealership experience and more.
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Best Insurance companies according to Consumer Reports:
https://20somethingfinance.com/clue-report-overview/
One of the best kept consumer secrets out there is the little-known CLUE report, which is made available to insurance companies on every single insurance consumer.The CLUE report is the insurance-world equivalent of a credit report on insurance consumers and can have a profound impact on your personal property and auto insurance rates. Insurance companies use it to see if you are a good candidate for insurance and will use it to decide if they will insure you and to set up the rates. If they see that you file too many claims or have too many tickets or accidents they might decide to deny you. You can get a free CLUE report once a year by either calling LexisNexis or ordering one from its website. The C.L.U.E. acronym, commonly referred to as CLUE, stands for a Comprehensive Loss Underwriting Exchange and is compiled by LexisNexis Risk Solutions. The CLUE report will show the claims made by a driver over the past seven years. How to Read the Report - EPIC.
Order Your Report Electronically - LexisNexis Risk ...
Policygenius is free to use and can give you quotes from a variety of insurance companies, not just one. Policygenius also serves as a guide, helping you select the best policy for your money and explaining every step to apply and get covered. Don’t know where to start? It’s easy. Policygenius has the tools to help you figure out the right amount of coverage in a low-pressure environment. And Policygenius just added an exclusive new life insurance policy to their marketplace a new product called Brighthouse SimplySelect, which gives qualified applicants the ability to complete their life insurance medical requirement by phone. Looking for a deal? Go to Policygenius.com and find out if you can save some dough on your homeowners or life insurance. The best part is you can shop for both in one place!
QUOTES:
My insurance payment plan: Our insurance bills really add up. Between medical, homeowners, auto and life insurance, it seems like we're always looking at a big bill. Two years ago, I totaled them all up. I decided to put 1/12th of that total into a separate account each month. That way, I have most, if not all, of the bills saved when they are due. I actually added 10% to the total, figuring that some bills (like health insurance) would increase. This year, I'm going to make a real effort to shop to get the best deals. Claire from Dollar Stretcher Tips
Insurance Deductible Savings: Call your home and car insurance agent and see if you can lower your monthly premium by increasing your deductible amount. If you're like me, you set those amounts when you may not have had the savings built up that you do now. Just this month I increased my auto deductible from $100 to $1000 and my homeowner's deductible from $1000 to $5000. If something happens, I can cover those amounts with my savings, but if it costs over those amounts, I will have to decide if I want or need to make the claim. I saved $70 a month! That's $840 a year and I still have exactly the same coverage. Dolores from Dollar Stretcher Tips
My Two Cents: It Pays To Shop Around for Insurance: Our full coverage for three vehicles was $1,750. The next renewal was firm at $2,250 a year. I chose another insurer and the price went back down to $1,750 with them. Then I was helping a friend change to another insurer (which saved her a lot), when the insurer mentioned I could save since I was insuring two extra vehicles I seldom used. It required the installation of the wireless devices that gets plugged in under the dash that tracks my driving habits and distance traveled. My insurance for the three then went down to $950. Selling one of the cars dropped me to where I am now, at about $700 for the two cars. I am saving money on insurance by researching providers to find the greatest savings. For my seldom used car, my yearly rate is about $150 plus $35 each 1000 kilometers that I drive. My main vehicle insurance is under $500 and the other car ends up costing me about $225 per year. They give me discounts for a variety of things, such as age, accident free, multi-vehicle, etc. My friend has similar auto insurance and her home insurance for her rental home is now only $100 vs. the $300 with her previous insurer. We sure saved her a lot and have done the same for her daughter. They will not insure my summer home because it is under construction and it is combined with my house coverage with another insurer Jim from Dollar Stretcher Tips
Why Homeowners Need a Home Inventory: Our home was robbed and we had a terrible time with the claim. As a result, we now take photos of jewelry and valuables. When buying jewelry, I always request a detailed description. Pat frpm Dollar Stretcher Tips
No More Insurance Bill Shocks
When my husband and I first combined finances, I was shocked to find out all of the different insurance premiums we were paying throughout the year. Health insurance aside, we had bills for house insurance, life insurance, car insurance, ATV insurance, and the list goes on. After being caught off guard by an $800 insurance bill, I sat down and made a list of every type of insurance we had, how much the premium was, and when it was due. I then did some simple math by adding all the premiums together and dividing by 52. I opened a separate savings account (super quick to do thanks to the ease of online banking), and each week, an automatic transfer puts that designated amount into our "insurance savings account." Now, whenever the insurance premiums pop up, I just go to that savings account and the money is already there!
Mandy from Dollar Stretcher Tips
Instead of Buying an Extended Warranty: Extended warranties are tempting, but like other insurance, if you can afford to take the risk, you'll be better off financially by self-insuring. There's a reason that they try so hard to sell them. They're very profitable for the store and the insurance company. One way to self-insure is to take the amount you would have paid for the extended warranty and put it in a savings account. If you do that every time you buy an appliance, you'll have money saved when you need a repair job.
Krista from Dollar Stretcher Tips
PODCAST: Simple Tips to Cut Hundreds From Your Insurance Bill
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