STOP PAYING TOO MUCH FOR INSURANCE
Below are tips to help you save money on your insurance. Following this advice will only take minutes of your time, but could save you hundreds of dollars annually. I don’t know about you, but I think $100+ an hour is pretty good money.
1) Use an independent agent. Independent agents write insurance policies for several companies. So they can find the policy and company that best fits your needs with the lowest premium. Independent agents shop multiple companies to save you both time and money.
2) Take advantage of multi-policy discounts. Having one insurance company insure all of your policies will give you a possible discount of up to 30% per policy. So if you insure your home and auto with the same insurer and each policy premium is $750, you receive a multi-policy discount of $75-$225 per policy. That is a total savings of $150-$450. You also receive discounts for having other insurance policies with the same insurer as well. So keep this in mind when considering umbrella and jewelry insurance.
3) Be sure to get credit for education. Many insurance carriers give discounts to people who have degrees. In addition, a master’s degree might give you a higher discount than a bachelor’s degree. Make sure your agent has this information.
4) Shop early. Many insurance carriers give you discounts if you shop at least 8 days in advance. Contact the prospective agent 15-30 days before your policy expires.
5) Do you have a teenage driver? If you have a teenage driver in the house and they have a 3.0 grade point average or higher, be sure your agent gives you the good student discount.
6) Consider your method of payment. Most insurance carriers will give you the best deal if you pay your policy in full. If it is not possible to do that, consider paying electronically. If you choose to be billed monthly your carrier will charge you a service fee of between $5-$10. If you choose to pay by electronic transfer of funds, many carriers will not charge you a fee at all or the fee will be very nominal. Paying an extra $10 per month in fees equals $120 per year for insurance.
If you are in Virginia, I’d be happy to give you a quote. Contact me (Missy) at 540-631-0045 or email@example.com. Currently I save my clients an average of $950/year.