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The Ultimate Guide to Cutting Your Insurance Expenses

28 November 2016   Nationwide Insurance | Partner Content

A good policy with adequate coverage is a must.

Insurance is one of those expenses that you may pay begrudgingly until the day you’re happy you have it. Investing in a good policy with adequate coverage is a must. This is true of auto, home and life insurance. You don’t want to skimp on coverage in order to cut costs, but when you look at your bill, you might not see any other options. Luckily, there are ways to cutting down on your insurance costs without sacrificing the coverage you. With the right agent on your side, you can find the option that best fits your needs. This guide is a quick and dirty introduction to the secrets most insurance companies don’t want you to know. If you’re ready to save money, stick to your budget and come out feeling like a grand negotiator, you should continue reading. Ideally, you will never have to use your insurance, so you may as well nag some savings on it in the meantime.

Ask About Discounts

There are almost always discounts available on insurance policies for achievements such as good grades, a clean driving record or membership to certain clubs. If you aren’t receiving any of these deducted from your bill, there’s a good chance you’re paying more than you need to. In order to remedy this, do some preliminary research to see if any information is available online regarding the discounts that your provider offers. Take the information you find and get in touch with your insurance agency to inquire about these and other ways to save on your insurance premium.

Cash In on Your Loyalty

In addition to discounts for achievements and memberships, many insurers offer clients discounts for their loyalty. If you have been with the same insurance agency for a while but are shopping around, this could be a good approach to take. Ask your provider if there are any incentives that can be applied to your bill for being such a loyal customer. Even if the answer is no, the answer may change when you bring up competitors. If you have been a customer for a while, it’s a good idea to take advantage of that and any savings it can provide.

Negotiate for Best Results

If all else fails, negotiating with an insurance provider is often a productive means of reducing your bill. Speaking with an agent can provide an opportunity to explore options, discuss different policies and discuss your budgeting concerns. After doing this, if the agent is unwilling or unable to find a policy that meets your needs and monetary restrictions, you can begin making suggestions. You might be surprised how many insurers are willing to negotiate on policy premiums in order to gain a new customer or save an existing one. This is a great way to see considerable sums of money. Saving on your insurance bill is an essential step in achieving financial freedom and sticking to your budget. With these tips in mind, you can handle the situation like a professional and get it done with ease. There’s no reason to pay more than you need to.