Episode 22: How to save money on your insurance premium.
In this episode, you will:
- Learn how to negotiate your insurance premium.
- Learn how to lower your insurance premium.
Click to listen:
Your insurance premium is definitely one of your monthly bills – you pay insurance on your auto and homeowners’ insurance. Paying those insurance premiums can be expensive and inconvenient sometimes, especially when you are still struggling in your finances. However, insurance your prized possession is a wise thing to do because it protects you and your properties from the risk of loss. Insurance provides peace of mind to you and transfers risks on your properties to third parties. Having adequate insurance is not only smart, but it is also prudent to make sure that you are not overpaying for your insurances so that you can save more money.
In a situation whereby you have multiple options, selecting the right insurer can be a daunting task. Also, there are wide differences in the premiums across insurance providers. That’s good news for you because you are in a position to choose the appropriate company that you want to transact business with.
Here are some ideas that you can use to cut down your insurance premium:
1. Shop around
2. Raise your deductible
3. Reduce optional coverage
4. Bundle your policies
5. Maintain a good credit score