1. Be Informed
Know what you are paying for – if you don’t know then just ask. We want our clients to have the right coverage suited for their specific needs and we want our clients to understand exactly what coverage they do have. Insurance is meant to protect you, the client.
2. Shop For Coverage – Not For Price
Cheapest is not always the best policy. You will want to consider the type of coverage you are paying for and the quality of customer service that you will be receiving. You should also consider the level of service you will receive in the event of a claim. For example, is your insurance company local or will you be speaking to insurance adjusters located out of the country?
3. Consider Choosing A Higher Deductible
Raising your deductible is one of the best ways to keep your overall insurance premium down. A deductible is the amount you agree to pay toward the total amount of the loss: your “share” of the claim. The higher the deductible, the lower the premium.
4. Ask For Discounts
Insurance companies often offer discounts for being claims free, mortgage free, or for having multiple lines of insurance with the same company. Ask your insurer if there are any available discounts that can be applied to your policy.
5. Buy Your Insurance From An Insurance Company
Many financial institutions, money lenders, and leasing companies offer their own form of insurance. Often, these insurance coverages are more expensive and not as comprehensive as the coverage you would obtain from an insurance company. Ask your insurance company for a quote and a comparison before agreeing to insurance coverage with your bank, money lender, or leasing company.
Looking for more information? We love questions! Give us a call or send us an email anytime for information and advice