Home and auto insurance are both necessary to protect your investments and ensure the security of your loved ones. Unfortunately, finding affordable auto insurance or homeowner insurance is often easier said than done. However, if you follow the right steps, there is no reason you have to pay full price for insurance services, especially when it comes to your home. Follow the tips below to learn how to get insurance you can afford!
Work With the Same Provider
Do you get your car and home insurance through the same provider, or do you have plans with separate car insurance and home insurance companies? To get more affordable insurance, you should consider switching to one carrier instead: increasingly, insurance companies are offering as much as a 30% discount to clients who buy their car, home, and even life insurance plans together. This can benefit you in more ways than one: in addition to better prices, you will likely find that having one provider creates better consistency and communication.
Choose a Higher Deductible
For many people, a low deductible may seem like a natural way to make fender benders and other problems more affordable. However, because your premiums increase every time you make a claim, this can be much more expensive in the long run. For this reason, if you are trying to figure out how to get insurance you can afford, choosing a higher deductible could be a simple and effective way to lower your expenses: having a higher deductible will not only make you less likely to submit a claim, but these plans can also cost you as much as 35% less. This choice, of course, can be a gamble, as you may need your insurance to help you fix damage and other issues. However, insurance experts often recommend that you keep an emergency fund to cover these problems to save you more money over time.
Get a Good Alarm System
Does your home have an advanced monitoring system, fire alarms, and carbon monoxide detectors? Do you have some sort of system to help protect your car from burglary? This can save you anywhere from ten to 20% on your insurance, especially when it comes to your home insurance. Because the rate varies, it is recommended that you ask your insurance company about this feature before you install any new equipment.
If you’re wondering how to get insurance that fits your budget, don’t worry: because insurance is so necessary, and often quite costly, you are far from the only one. Because of this, insurance companies and policy holders have found a number of ways to decrease prices to attract new customers and keep insurance plans manageable, including the three tips above. Contact your insurance company today to ask how these three tips will affect your monthly premiums! Read more.