With the rising cost of almost everything these days, insurance is certainly no exception. Although most insurances set us back a fair amount of money, we pay the price because we want our families and possessions to be sufficiently protected at all times. Luckily there are some simple things you can do to lower your insurance bills.
One of the best ways to lower your insurance bills is to shop around. Regardless of the type of insurance you are looking to purchase, you can almost always find a lower price than what you are currently paying if you decide to compare companies and rates. One way to shop around is to visit websites that do the work for you. All you have to do is enter in some basic information and the websites find insurance policies that fit your needs. Since all the information is right in front of you, you do not have to waste time calling around or visiting individual websites. This allows you to compare companies and rates easily.
Raise Your Deductibles
Another way to lower the amount you pay for insurance is to raise your deductibles and co-pays. Although this means you will be paying more should a claim arise, your insurance bills will be considerably lower. Many people choose to go this route because the likelihood of a claim is pretty low. Remember, you should always analyze your insurance needs and situation before making any changes.
Update Your Home
Updating your home can often lower your home insurance bills because your home is considered less of a risk. If you update your home’s electrical system, there is a much lower chance of a fire taking place. Additionally, updating your home’s storm doors and windows will protect your home from high winds and other weather-related issues. Reinforcing or replacing your home’s roof will also help protect your home and family from the elements. Even if you cannot update everything at once, do not think you will miss out on reduced home insurance rates. Every update helps, so be sure to inform your insurance company as soon as an update takes place.
Add Security Features to Your Home
Another way to lower your insurance bills is to beef up the security in your home. Adding security features such as working smoke alarms, burglar alarms, carbon monoxide detectors, and a sprinkler system can reduce the risk of a serious event from occurring in your home. This in turn can lower the amount you pay for insurance.
Health insurance is not only extremely important, but also very pricey. Fortunately there are some things that can lower the amount you pay for health insurance. For starters, try to maintain an active lifestyle. People who are physically fit and active have a much lower risk for developing health problems, and insurance companies know this. Another thing you can do is stop smoking if you are a smoker. Smoking raises the risk of numerous health issues, so quitting can improve your health immensely. Your insurance company will see you as a lower risk as soon as you kick the habit and may lower your rates.
Ask About Discounts
Many insurance companies offer discounts on insurance policies if you meet certain criteria. For example, many automobile insurance companies offer discounts for safe drivers and students. You can also usually get a discount on your insurance if you insure more than one vehicle with a company. This is known as a multi-vehicle discount. If your insurance company offers more than one type of insurance, which many do, check to see if you are eligible for discounts if you insure all of your property and belongings with them. This is known as a multi-policy discount and can usually save you some money. Be sure to ask about these money-saving discounts because many insurance companies will not give them to you unless you ask.
These are all great ways to lower your insurance bills. Although insurance is important and often mandatory, at least now you know it does not necessarily have to cost a fortune.
Guest post from Bailey Harris.