Brokers, Bundling and Budgets: Simple Steps for Super Savings on Car Insurance
You want to save money on your insurance, but it's often easier said than done. You approach your insurance agent, tell her that you want to pay the lowest premium possible, and she just smiles and nods. While not all agents are out to maximize their commissions at your expense, some agents just don't know how to save you money. Why? Because they work for one insurer and can only offer one product line. What you need is the flexibility to get what you need at a price you can afford.
Comparison Shop
There's no substitute for shopping around. This simple act can save you thousands of dollars over life of your policy. Thankfully, comparison shopping is pretty simple to do on your own thanks to online quote engines. These software programs will locate quotes from companies authorized to do business in your area and itemize the quotes in an easy-to-read format.
From there, it's a simple matter of signing up with the insurer that you like. Most quote engines can show you up to 20 different company quotes.
Bundle Other Insurance Products Together
Most insurers will offer you a premium discount if you bundle two or more policies together. Why? Because part of the way insurers make money is through something called "premium float." The "float" is money that is collected from policyholders but is not yet needed to pay claims.
This money is invested until it's needed. The profits made from the investment go toward paying future claims or straight to the company's bottom line. By bundling policies, you're providing the insurer with additional investment funds - something they will gladly reward you for.
Get A Broker
Brokers can do research that is difficult or impossible for you to do on your own. If you've had problems in the past with speeding tickets, or anything else license-related, a broker will be able to search for companies willing to deal in adverse risk - policyholders that represent higher-than-average risk to the insurer.
By doing a sort of "prequalification," a broker can make sure you get fair treatment by an insurer, find premiums that are affordable with coverage you need to drive on the public roads. In the end, it doesn't really matter whether you go through experts like BrokerLink or contact someone directly. What matters is that you have an advocate to shop around for you.
Ask About Special Discounts
Insurers almost always offer discounts - even if they don't advertise it. VIN etching in automotive glass, being an alumni of a local college or university, having good grades as a student driver, being a member of a fraternal or social organization, and having taken a defensive driving class are all easy discount wins.
If your vehicle comes equipped with an active alarm system, you'll get a discount but auto insurers will also offer you discounted premiums if you install an aftermarket unit. So, don't get discouraged if you drive an older vehicle without an alarm.
Ask About Deductibles
Deductibles can make a huge difference in your premium. In general, low premiums are associated with high deductibles. Conversely, high premiums are associated with low deductibles. Want to save money instantly? Raise your deductible. Just be sure to save some money so you can meet your deductible when you need to file a claim.
Insurance: A Guide
"Remember kids, I have life insurance" - Adam Savage
This is a guest article from Tatyana Levin
These days one must be financially savvy. Money is not easy to come by and should be managed carefully. With the availability of tools that make it easy to keep track of current events, the stock market, and even your own money, it would be almost a crime to not utilize these tools to make the best and most informed financial decisions. Unfortunately, the more there is, the more there is to keep track of. This applies both to tracking tools and money (the small curse within the comfort of having money to keep track of).
The savvier ones of us dabble in investments, and the savviest make their living that way. The key is that they know what to invest in. Not magically, of course; investors do a significant amount of research to learn how to optimize their portfolios, but they have the understanding.
A grossly overlooked investment is insurance. This may be because is not typically referred to as an investment with the exception of whole life insurance that has a specific investment component within it. Webster’s defines the word “invest” as a commitment of money for a return and “insurance” as a guarantee. This makes insurance the safest type of investment, because your returns are guaranteed. But returns are not always financial in the case of insurance. They can be, if there is an unforeseen accident, but the most certain return is the feeling of security.
Now there are many different types of insurance, and what you need depends on your current situation. Obviously you only need auto insurance, found using auto insurance leads if you have a car, and you only need renter’s insurance if you rent and have possessions that you would need insured. Insurance is for those who have something to lose. With an attachment to something, either emotional of physical (or dependence, not like physically being glued to your car), comes the fear that it will be damaged or ruined in some way. For example, if your house caught on fire, you would be devastated. What would add insult to injury is not having a way to recover from this horrible disaster.
These types of examples are not unique to this article. That is the way that insurance is sold. As they say that clichés are clichés for a reason, insurance is promoted this way for a reason. The foundation of the concept of insurance is uncertainty, and it is the same uncertainty that is conjured up when investing.
The main difference between insurance and investment is that not having insurance creates a feeling of uncertainty while investments by nature are uncertain. Therefore, investing in insurance creates security and is the only secure investment that exists (and is legal). Getting insurance should be one of the easier financial tasks if you apply all the resources available with technological advances like smart phones.
About the Author: This article was written by Tatyana Levin, a copywriter for InsuranceFiles.com
You want to save money on your insurance, but it's often easier said than done. You approach your insurance agent, tell her that you want to pay the lowest premium possible, and she just smiles and nods. While not all agents are out to maximize their commissions at your expense, some agents just don't know how to save you money. Why? Because they work for one insurer and can only offer one product line. What you need is the flexibility to get what you need at a price you can afford.
Comparison Shop
There's no substitute for shopping around. This simple act can save you thousands of dollars over life of your policy. Thankfully, comparison shopping is pretty simple to do on your own thanks to online quote engines. These software programs will locate quotes from companies authorized to do business in your area and itemize the quotes in an easy-to-read format.
From there, it's a simple matter of signing up with the insurer that you like. Most quote engines can show you up to 20 different company quotes.
Bundle Other Insurance Products Together
Most insurers will offer you a premium discount if you bundle two or more policies together. Why? Because part of the way insurers make money is through something called "premium float." The "float" is money that is collected from policyholders but is not yet needed to pay claims.
This money is invested until it's needed. The profits made from the investment go toward paying future claims or straight to the company's bottom line. By bundling policies, you're providing the insurer with additional investment funds - something they will gladly reward you for.
Get A Broker
Brokers can do research that is difficult or impossible for you to do on your own. If you've had problems in the past with speeding tickets, or anything else license-related, a broker will be able to search for companies willing to deal in adverse risk - policyholders that represent higher-than-average risk to the insurer.
By doing a sort of "prequalification," a broker can make sure you get fair treatment by an insurer, find premiums that are affordable with coverage you need to drive on the public roads. In the end, it doesn't really matter whether you go through experts like BrokerLink or contact someone directly. What matters is that you have an advocate to shop around for you.
Ask About Special Discounts
Insurers almost always offer discounts - even if they don't advertise it. VIN etching in automotive glass, being an alumni of a local college or university, having good grades as a student driver, being a member of a fraternal or social organization, and having taken a defensive driving class are all easy discount wins.
If your vehicle comes equipped with an active alarm system, you'll get a discount but auto insurers will also offer you discounted premiums if you install an aftermarket unit. So, don't get discouraged if you drive an older vehicle without an alarm.
Ask About Deductibles
Deductibles can make a huge difference in your premium. In general, low premiums are associated with high deductibles. Conversely, high premiums are associated with low deductibles. Want to save money instantly? Raise your deductible. Just be sure to save some money so you can meet your deductible when you need to file a claim.
Insurance: A Guide
"Remember kids, I have life insurance" - Adam Savage
This is a guest article from Tatyana Levin
These days one must be financially savvy. Money is not easy to come by and should be managed carefully. With the availability of tools that make it easy to keep track of current events, the stock market, and even your own money, it would be almost a crime to not utilize these tools to make the best and most informed financial decisions. Unfortunately, the more there is, the more there is to keep track of. This applies both to tracking tools and money (the small curse within the comfort of having money to keep track of).
The savvier ones of us dabble in investments, and the savviest make their living that way. The key is that they know what to invest in. Not magically, of course; investors do a significant amount of research to learn how to optimize their portfolios, but they have the understanding.
A grossly overlooked investment is insurance. This may be because is not typically referred to as an investment with the exception of whole life insurance that has a specific investment component within it. Webster’s defines the word “invest” as a commitment of money for a return and “insurance” as a guarantee. This makes insurance the safest type of investment, because your returns are guaranteed. But returns are not always financial in the case of insurance. They can be, if there is an unforeseen accident, but the most certain return is the feeling of security.
Now there are many different types of insurance, and what you need depends on your current situation. Obviously you only need auto insurance, found using auto insurance leads if you have a car, and you only need renter’s insurance if you rent and have possessions that you would need insured. Insurance is for those who have something to lose. With an attachment to something, either emotional of physical (or dependence, not like physically being glued to your car), comes the fear that it will be damaged or ruined in some way. For example, if your house caught on fire, you would be devastated. What would add insult to injury is not having a way to recover from this horrible disaster.
These types of examples are not unique to this article. That is the way that insurance is sold. As they say that clichés are clichés for a reason, insurance is promoted this way for a reason. The foundation of the concept of insurance is uncertainty, and it is the same uncertainty that is conjured up when investing.
The main difference between insurance and investment is that not having insurance creates a feeling of uncertainty while investments by nature are uncertain. Therefore, investing in insurance creates security and is the only secure investment that exists (and is legal). Getting insurance should be one of the easier financial tasks if you apply all the resources available with technological advances like smart phones.
About the Author: This article was written by Tatyana Levin, a copywriter for InsuranceFiles.com
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