Being proactive is the beginning of saving costs on your insurance rates. Know what discounts are available to you and ask for those that apply to you. Here are 5 tips to reduce your car insurances costs as low as possible.
While some insurers may specialize in one preferred field, a narrow offering like that can result in higher insurance costs to you. It’s well worth your time to speak to a number of insurance brokers who can provide you with more than one line of insurance. At SMK insurance our clients save when they tell us about all of their insurance needs. Then we can broker the best deal for their bundle. By combining your insurance policies with the same insurer, you can reduce costs and, over a year, save substantially. (If your insurance doesn’t offer you a reduction, call us. We will.)
To Reduce your Car Insurance Costs read Tip #2: Investigate Vehicle Owner Discounts
Your insurer should be willing and able to build you a policy tailored to meet your needs. That should include any insurance discounts owed to you. As I mentioned above, bundling your insurance needs often means one lower premium. Use this SMK list to compare what your existing insurance provider offers on your auto insurance:
To Reduce your Car Insurance Costs investigate Tip #3: Ask about Home Insurance Discounts
If you’re not an SMK policy holder, check with your insurer to be sure that all home discounts that can be applied to you are! Remember, by handling all of your insurance needs, we can and will broker the most advantageous deal for you. We can’t speak for your insurer but for home insurance, SMK discounts apply to people whose home: Is mortgage free; Is a non-smoking residence; Is serviced by electric heat; Remains claims free; Has an alarm system; and finally, Is a newer home
To Reduce your Car Insurance Costs consider Tip #4: Increase your Deductible
When discussing insurance policies, the word ‘deductible’ refers to the initial amount of every claim that you, as the insurance purchaser, agree to pay on your own. So, another way to save on your insurance costs is to increase your deductible. That is, if you are willing to pay a higher initial amount – a higher deductible – on the repair or replacement costs for any damage to your vehicle or home, this immediately reduces your insurance outlay.
To Reduce your Car Insurance Costs here's Tip #5: Review for any unnecessary coverages.
It doesn't happen often but sometimes you can carry too much insurance. As an example, an older vehicle may no longer need to carry collision. If its value is not much more than the policy deductible and the impact on your rate would be greater than the damage, then eliminate it. If you don’t drive your vehicle in the winter, you can remove “road coverages” to save some money as well. Your broker can review your individual circumstances with you and make appropriate recommendations to help lower your costs.
To recap, if you bundle your insurance needs with one company, investigate any available discounts, agree to higher deductibles, enjoy a clear driving record, and maintain a safe home, you will keep your rates at the best possible price.
I hope this is helpful to you in your quest to reduce your annual insurance outlay and save your hard-earned money. At SMK Insurance, our staff is experienced and professional. Feel free to call us any time to receive a quote. If you decide to switch to SMK Insurance, it’s hassle free – we’ll do all the work.