Insider Secrets to Scoring the Cheapest Insurance Rates
If you’re like many Americans, you may not take the time to compare multiple insurance quotes. This could be costing you money.
A survey by ValuePenguin found
that only 26% of Americans have ever compared multiple quotes. That’s a shame,
considering how much you stand to save. In fact, the average American who shops
around saves 47% on car insurance and 76% on homeowners insurance.
And it doesn’t necessarily take a
lot of work to get the job done, either. In fact, 82% of Americans who have
shopped around report that it took them less than two hours to do so. That’s a
small price to pay for extra cash that you can use for emergencies, to invest
in the future, or to simply enjoy life.
car
insurance policies in Ohio
One of the main reasons people
don’t shop around is that they think they’re getting a good deal with their
current insurer. But this isn’t always the case. In a practice called “price
optimization,” some insurers increase their prices to long-term customers in
the hope that they will not shop around. However, if you do shop and find a
lower rate from a competitor, your insurer will typically drop your rates to
match.
For this reason, you should
always be in the habit of shopping for the best rates on your home, car, and
health insurance. This should be a priority, especially if you’ve recently
experienced a major life event or have a history of at-fault accidents, traffic
violations, or other issues that can cause your premium to rise. Similarly,
it’s a great idea to shop for quotes every year, or whenever your policy is up
for renewal.
2. Compare Companies
Insurance rates aren’t set in
stone, and there is a lot of competition among insurers. This is why it’s
important to shop around and compare quotes. You can do this by using an online
comparison service, such as Policygenius, which will show you a list of
personalized quotes from multiple companies. Alternatively, you can work with
an independent agent or insurance broker, who will take your information over
the phone or in person and then shop for rates on your behalf. These agents and
brokers often have access to smaller regional carriers that may not be
available through comparison sites.
Colonial
Life & Accident Insurance Company
Medicare
Insurance Broker in Ohio
Medical
Pedicures Covered by Insurance
4. Review Your Policy Annually
Whether you have health, home, or
car insurance, it’s important to review your policy at least annually. Doing so
can save you money in the long run, as well as ensure that your coverage
evolves with any life changes you experience. It also helps you avoid over- or
under-insurance, which can lead to expensive out-of-pocket expenses.
When you do your policy review,
make sure to read it all the way through and pay special attention to any
changes that may have been made. This is particularly important for life
insurance policies, as they can be complicated and subject to numerous rules
and restrictions. In addition, it’s a good idea to review your policy prior to
a major life event, such as a wedding or divorce, which could have an impact on
the amount of coverage you need.
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Benefits for Seniors
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