Tips for shopping and buying insurance
When you are shopping for the best insurance offers, you want to make sure that you are fully prepared to take the steps or measures necessary to make sure you get the best rate available. Certain things that set prices are completely beyond your control - other factors, however, can be controlled by you. How much you pay for a plan is never 100% fate that is beyond your control. There are measures you can take both when shopping for coverage and in maintaining your policies that can give you a lower rate.
- Comparison Shop: You've already taken the first step toward comparison shopping your way into a lower rate. This means that you can choose from several vendors that are licensed to sell policies to you in your area.
- Consider More than Price: Money isn't everything when it comes to buying coverage. If you want to pay $75 per month for a health plan for a family of four, you could probably find something like that - the problem is, that it is not likely to do you any good when you actually need to use that plan for coverage. Do not let yourself be taken in by a very low-rate policy that will not provide anywhere near the level of coverage you actually need.
- Eliminate Negative Habits: There are things you can do that will make your rates get higher, or possibly even sky high. Smoking if you are applying for health or life insurance, speeding and getting tickets for auto insurance, and other lifestyle choices that insurance insurers look unfavorably upon.
- Buy Multiple Policies: Most providers, in order to motivate their clients to keep all of their insurance under the same roof, will offer multi-policy discounts, which means that if you buy your life, health auto and homeowners policies from the same company, you're looking at a significant added discount for all of them over just having each policy set with a different company. You will save paper, headache of having to pay multiple bills at different times during the month and all the trouble of keeping too much straight in your head.
- Stay Truthful: Nothing is worse than spending thousands of dollars on a premium only to have to file a claim one day and have it denied by your provider because you lied on your application and they found out about it. It's not worth the risk to save a few dollars on your premium - be truthful and get the best rate for who you truly are and what your situation really is. That way you know that should the time ever come to file a claim, the provider will not be able to hand you a surprise denial of claim due to a falsehood on your part during the application.
- Balance your Deductibles: Far too often, people who are looking for and buying a new plan will shoot for a deductible that is lower than what they need. That is because in the moment of the sale, you are considering how much cash you can come up with on the spot, which usually isn't very much. You are much better off, however, considering something like how much you can save on a deductible. Not only will this act as a great emergency fund for you, but you can probably also earn interest from it as well. Increasing your deductible and simply saving up for it in advance of an emergency will mean lower premiums and extreme savings.