Tips To Lower Your Insurance Premium

Do you pay too much for insurance? Those who are looking for ways to lower their insurance premiums have many options to accomplish that goal. Here are a few ways that you can pay less for all of your insurance policies.

1) Consider Bundling Your Policies

If you have homeowners insurance, auto insurance and life insurance through three separate companies, consider bundling them into one policy. Insurance companies typically offer discounts when you bundle. You could save as much as 10 percent or more just by having all of your policies bundled together.

2) Pay The Premium In Full

Instead of making monthly payments, you should consider paying your premium in full annually or semiannually. By doing so, you avoid paying fees and convenience charges associated with installment payments. Your total savings could be anywhere from 5-15 percent.

3) Put Yourself On Someone Else’s Policy

Teenagers can use this trick to save money on their car insurance policies. Teen drivers who are added to their mom and dad’s policy are entitled to any discounts that they get. This means that teen drivers could save hundreds of dollars a year compared to what they would pay on their own policy.

4) Avoid Claims If Possible

Lower claim rates make you an attractive customer for many insurance companies. There are specific discounts available for those who don’t file claims on their policy. Over time, you may have your deductible lowered or phased out altogether as a reward for being such a responsible customer.

There are many ways to lower your insurance premiums. The trick is to make yourself look responsible in the eyes of the insurance company. If you are perceived as less likely to file a claim, you will be rewarded with discounts and a lower rate on your insurance policies.
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