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Cheap Insurance - Ten Ways


Cheap insurance? Auto insurance, life insurance, health insurance, liability insurance - whatever type of insurance you need, you can buy it for less. Try the following:

1. Raise you deductible. Why have a $100 deductible if a $1000 deductible won't break you? It may hurt to pay the first thousand someday, but what if meanwhile you saved several thousand? High deductibles mean lower rates. Of course, get quotes with various deductibles, to be sure you're saving enough for the higher risk.

2. Lower your coverage. Insurance agents secretly admit that people usually get sued according to policy limits. You'll be sued for more if your limit is a million than if it's a hundred thousand. A judgement beyond the policy limits is a scary thought, but this can happen no matter what your limits are. If you don't have many assets or much money in the bank, consider lowering your coverage to save money. Get quotes first, of course, to see how much you'll save.

3. Lower the insurance company's risk. Using seatbelts, not smoking, and having alarm systems can mean cheap insurance. Ask your agent about any discounts that are available.

4. Use an independent agent. Why limit yourself to one insurance company? Independents can show you the cheapest policy regardless of which company it's from. Just check a rating service to see if the issuing company is financially solid, especially when buying life insurance.

5. Drop your insurance. The insurance companies will hate me for this one, but consider eliminating some coverages. You need liability coverage on your car, but collision coverage on a $2000 car doesn't make sense. Invest the money elsewhere, and take the $2000 loss once or twice in your life, or maybe never.

6. Buy stocks instead of insurance. If you and your wife both have good incomes, it probably makes more sense to invest your money than to buy life insurance. If loved ones have enough income or assets, life insurance premiums are usually wasted money.

7. Get rebates. Some states that allows "rebating". California law, for example, allows agents to rebate part of their commission to you. If you live in a non-rebating stae, find a California company online!

8. Get the legal minimums. If you have no assets to protect, ask for state-mandated minimums on auto liability policies. Most companies give you their higher, more expensive "company minimums" if you don't push the point.

9. Review your policies. It is common for parents to still pay for health insurance coverage on adult children long after they are working and have their own coverage. See what other unecessary coverages you may be paying for.

10. Get several quotes. For cheap insurance, compare quotes from several companies, and ask about different policy options. One more thing: take notes.

Steve Gillman has been studying every aspect of money for thirty years. You can find more interesting and useful information on his website; http://www.EverythingAboutMoney.info


MORE RESOURCES:

Insurance - Google News

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GE's Credit Risk Rises After Insurance Charge Spooks Investors - Bloomberg


Bloomberg

GE's Credit Risk Rises After Insurance Charge Spooks Investors
Bloomberg
The Boston-based company unnerved investors when it disclosed that it would take a $6.2 billion charge and set aside $15 billion in the coming years to add to reserves for a portfolio primarily of long-term care insurance policies. The announcement ...

Liberty Mutual sells life insurance unit for $3.3 billion as part of overhaul - Boston Business Journal


Boston Business Journal

Liberty Mutual sells life insurance unit for $3.3 billion as part of overhaul
Boston Business Journal
Liberty Mutual Insurance Group has agreed to sell its group benefits and life insurance subsidiary to Lincoln Financial Group for $3.3 billion, fulfilling a plan to focus fully on property and casualty insurance. Lincoln Financial (NYSE: LNC) will keep ...
Insurance M&A benefits from thin US safety net Nasdaq
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Paul Ryan is lying to you about the Children's Health Insurance Program - Vox


Vox

Paul Ryan is lying to you about the Children's Health Insurance Program
Vox
Paul Ryan's absolute greatest passion in life, the thing that drives him and underlies all of his work in public office, is destroying government programs for poor and low-income people. This was behind his 2005 push to privatize Social Security; it's ...
CHIP: What to know about the Children's Health Insurance Program Fox News
Trump children's health insurance tweet contradicts, confounds CNN
Let's remember: 9 million kids' health insurance is at stake in this budget fight Washington Post
New York Times  - HuffPost  - Daily Beast
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Home inventories are necessary, but not as hard as you think - Jackson Clarion Ledger


Jackson Clarion Ledger

Home inventories are necessary, but not as hard as you think
Jackson Clarion Ledger
It's a tragic picture that's repeated much too often: A family finds itself on the street, staring shell-shocked at the smoldering ruins of their home, or trying to pick their way through the wreckage after a tornado rampages through their town. What ...

AHA Makes Suggestions for In-State Insurance Market Stabilization - HealthPayerIntelligence.com


HealthPayerIntelligence.com

AHA Makes Suggestions for In-State Insurance Market Stabilization
HealthPayerIntelligence.com
January 19, 2018 - In order to stabilize in-state insurance markets, stakeholders should consider strategies including reinsurance, Medicaid-sponsored health plans, and high-risk pools, according to the AHA. Several factors are contributing to unstable ...

Tennessee Captive Insurance Companies Exceed $1 Billion in Premiums - Insurance Journal


Tennessee Captive Insurance Companies Exceed $1 Billion in Premiums
Insurance Journal
TDCI's Insurance Division is responsible for properly regulating Tennessee's captive insurance industry. “Not only are the size of new captives increasing, we are seeing the maturation of the captive insurance marketplace,” said Director of Captive ...

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Why Montecito's mudslide victims don't need flood insurance to recover their losses - Los Angeles Times


Los Angeles Times

Why Montecito's mudslide victims don't need flood insurance to recover their losses
Los Angeles Times
To the editor: Law professor Kenneth S. Klein writes that Montecito flood victims should not suppose their property losses are covered by homeowners' insurance. Contrary to Klein's statement, that is exactly what they should suppose. (“Another lesson ...

South Carolina School District Sues in Insurance Case - U.S. News & World Report


WCBD News 2

South Carolina School District Sues in Insurance Case
U.S. News & World Report
South Carolina School District Sues in Insurance Case. A South Carolina school district has sued a North Carolina insurance brokerage, saying it sold the district excessive policies and charged too much. Jan. 19, 2018, at 12:26 p.m.. South Carolina ...
The Berkeley County School District seeks $42 million in alleged insurance fraud scheme WCBD News 2

all 6 news articles »

Climate insurance scheme targets women farmers in Africa, Asia - Reuters


Climate insurance scheme targets women farmers in Africa, Asia
Reuters
The African and Asian Resilience in Disaster Insurance Scheme (ARDIS) is being led by VisionFund International, the microfinance arm of development charity World Vision, and Global Parametrics, a new venture backed by the British and German governments ...

and more »

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