Insurance 101: Getting the Best Deal

Insurance 101: Getting the Best Deal

Insurance is a necessity for your household, but you also want to be diligent about keeping costs down. Thankfully, you can take advantage of some money-saving moves that ensure that you have the coverage your family need and the funds to afford it. You’ll want to follow these time-testing advice tips while shopping for policies and evaluating your current insurance needs.

Home and Auto Shopping Basics

Depending on your household’s finances and coverage requirements, you may benefit from choosing services from a captive agent. A 2016 NerdWallet article explains more about captive agents, representatives who sell exclusively for a single insurance company. These providers were once the only method through which you could purchase policies in the past. However, NerdWallet writer Alex Glenn points out that it might be wise to find a professional among Dallas local insurance agents for several reasons:

  • First-hand expertise to guide you as you shop
  • A personal relationship with one point of contact
  • Ability to recommend insurance solutions for busy people

Multiline Policies Save Money

You’ve probably seen commercials advertising the benefits of bundling multiple types of products, such as home and auto. The Insurance Information Institute reveals that there’s wisdom in that promotional message. Those combined policy packages are where you’ll find significant discounts, since insurance companies reward customers these types of savings. It’s a good idea to stay openminded when you’re searching for auto products, and the same holds true if you need a homeowner’s or renter’s policy. It pays to comparison shop, and don’t be afraid to jump ship if a new carrier gives you a better deal on a bundle.

Got an Older Vehicle? Rethink Your Coverage

It’s easy to get caught up in the grind of daily life and forget to reassess your insurance needs, along with what you’re spending on premiums. If it’s been a few years since you’ve gotten another quote, you could be missing out on reduced rates. Additionally, older vehicles may warrant a reduction in coverage, especially if they’re paid off and are worth less than 10 times your premium.

Don’t Forget About Your Deductibles

Deductibles, or the dollar figures that you’ll pay before your insurer begins to reimburse you for claims, also impact how much you’ll pay in premiums. With lower deductibles, you spend more because the insurer is on the hook to pay greater sums to help you recoup your losses. Whether it’s for auto, home, or renter’s policies, make sure that you can safely afford your chosen deductible out of pocket in case you do incur a claim.

Insurance can take a significant bite out of your monthly budget, but you can use some smart shopping practices to cut down the bill without sacrificing coverage. Consider purchasing your policies from a captive agent, who can often offer you special discounts and bundles. Be sure you aren’t throwing away money for policies on older vehicles of lesser value, and pick a deductible that lowers your premiums while still being affordable. These basics should help you get better value for your money while offering sound protection for you, your family, and your belongings.

Surely You’re Sure You’re Insured?

 

Link to file

What about an insurance policy?

Sure, the topic of insuring your home makes you want to run into the kitchen and stick your head in the oven. Oh, it’s boring. Still, the monotony of striking a deal doesn’t mean insurance should go unnoticed. Sadly, many homeowners don’t bother ensuring they are insured (stay with me) because they don’t see the point.

Damage to your property may only occur once in a blue moon, but you never know when one is around the corner. God damn you global warming! So, if you aren’t sure you insured, here are the must-haves for homeowners.

Homeowners Insurance

Duh, could it be any more obvious?! Well, the truth is no because lots of people don’t take out adequate cover. Just like they don’t think bad things will happen, they also don’t have the cash. Okay, paying for a policy which may never bear fruit seems like dead money. But, the simple fact is that an average family or homeowner can’t afford to pick up the bill. An insurance company might gladly take your money, but Trusted Choice says they’ll step in when the going gets bad. Considering homeowners insurance covers everything from public liability to shelter costs, it isn’t a waste.

Content Insurance

Aha! This one isn’t as obvious now, is it? Not to tell you what you’re thinking, but you’re thinking “why do I need content insurance? I have homeowners insurance.” Unfortunately, there are lots of people who fall foul to this trick. First thing’s first – they are not the same. Secondly, they overlap, but the cover isn’t comprehensive. So, although homeowners insurance protects against fire and theft, it doesn’t cover natural disasters. Say a storm hits and floods the house, the insurance company won’t put their hand in their pocket.

Contractors Insurance

The handymen and woman among the readership will love to get their hands dirty. Of course, there are only so many renovations a novice can complete without help. Step forward a contractor, salt of the earth. For a reasonable sum, a quality worker will finish the job promptly and add a fortune to the house price. What a gentleman/woman. Well, that is until they mess up and walk away with your money. Yep, you guessed it: neither content nor homeowners insurance covers contractor liability. If you’re looking to redecorate, it’s best to get specific with your coverage.

Car Insurance

Do you have a drive or garage? Do you park your vehicle outside the house? If so, the cost of your auto insurance will go down. But be careful because the details of the property depend on the insurance company keeping their word. If they find out you lied just a little, they will void the agreement. For example, saying the car is secure when it’s on a drive with no gate counts as misdirection. You need car insurance to drive, but your house will play a part in the cost.

Now you should be sure you are insured, surely?

What about an insurance policy?

Sure, the topic of insuring your home makes you want to run into the kitchen and stick your head in the oven. Oh, it’s boring. Still, the monotony of striking a deal doesn’t mean insurance should go unnoticed. Sadly, many homeowners don’t bother ensuring they are insured (stay with me) because they don’t see the point.

Damage to your property may only occur once in a blue moon, but you never know when one is around the corner. God damn you global warming! So, if you aren’t sure you insured, here are the must-haves for homeowners.

Homeowners Insurance

Duh, could it be any more obvious?! Well, the truth is no because lots of people don’t take out adequate cover. Just like they don’t think bad things will happen, they also don’t have the cash. Okay, paying for a policy which may never bear fruit seems like dead money. But, the simple fact is that an average family or homeowner can’t afford to pick up the bill. An insurance company might gladly take your money, but Trusted Choice says they’ll step in when the going gets bad. Considering homeowners insurance covers everything from public liability to shelter costs, it isn’t a waste.

Content Insurance

Aha! This one isn’t as obvious now, is it? Not to tell you what you’re thinking, but you’re thinking “why do I need content insurance? I have homeowners insurance.” Unfortunately, there are lots of people who fall foul to this trick. First thing’s first – they are not the same. Secondly, they overlap, but the cover isn’t comprehensive. So, although homeowners insurance protects against fire and theft, it doesn’t cover natural disasters. Say a storm hits and floods the house, the insurance company won’t put their hand in their pocket.

Contractors Insurance

The handymen and woman among the readership will love to get their hands dirty. Of course, there are only so many renovations a novice can complete without help. Step forward a contractor, salt of the earth. For a reasonable sum, a quality worker will finish the job promptly and add a fortune to the house price. What a gentleman/woman. Well, that is until they mess up and walk away with your money. Yep, you guessed it: neither content nor homeowners insurance covers contractor liability. If you’re looking to redecorate, it’s best to get specific with your coverage.

Car Insurance

Do you have a drive or garage? Do you park your vehicle outside the house? If so, the cost of your auto insurance will go down. But be careful because the details of the property depend on the insurance company keeping their word. If they find out you lied just a little, they will void the agreement. For example, saying the car is secure when it’s on a drive with no gate counts as misdirection. You need car insurance to drive, but your house will play a part in the cost.

Now you should be sure you are insured, surely?

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