Getting low cost insurance is a very common goal for many people. They pay into it for years, and don’t have claims, so they see it as a waste of money. If you never end up having a claim in your whole life, it will be a waste of money, but, it’s possible for one claim to equal all the money you’ve ever paid into insurance. Plus, there are plenty of situations where insurance coverage is required either by law, mortgage holders, or licensing bodies. Let’s take a broad look at how to get low cost insurance.
Getting Low Cost Auto Insurance
Auto insurance is required in nearly every country to drive a car, and if it wasn’t, you’d want to have it to protect yourself from all the crazy uninsured drivers. However, there are ways to reduce your cost and still be well covered, especially if you’re a careful driver.
The first place you can save is on your liability insurance, which is what covers the cars you hit, if the accident is your fault. By driving fewer miles per year, you’ll have less risk, and most insurance companies will give you a lower rate. Also, it’s important to not get any moving violation tickets, or have accidents, as both of those will raise your rates considerably.
Next thing to do is to raise the deductibles on your comprehensive and collision coverages. Collision is what covers the cost of repairing your car if you have an accident that is your fault. Raise it as high as you feel comfortable with, you’ll be on the hook for the first $1,000 if that’s what you decide.
Comprehensive covers your care for all other types of damages, like floods, hailstones, vandalism, theft, and fires. Same deal, if you feel comfortable covering the first $500 of any claim, save on your monthly payments by raising the deductible. Park your car in a garage, never on the street, and buy and inexpensive car to repair as well.
Many companies also offer discounts for not smoking, drivers education for teens, accident free for several years, and older drivers that don’t drive much. Check prices online to find the best rates and compare prices, there can be a huge difference.
You Can Also Save On Your Homeowners Insurance
Homeowners insurance covers your home in the event of fire, windstorms, some floods, theft of contents and liability. There are plenty of ways to save, each company will have discounts they’ll offer, such as a non smoking discount, alarm system discount, and maybe a multiple policy discount.
You can also raise your deductibles on many types of losses to reduce your rates as well, but if you live in a high crime area, tornado prone state, or on the coast where hurricanes hit, you might want to think twice about your deductibles.
You should also be aware of things that can raise your rates considerably, like having a dog that bites, using a fireplace to heat your home, not keeping your home in top condition, or even having children that vandalize other homes.
There Are Also Ways To Save On Pet Insurance
Pet insurance is there to help pay for vet bills if your pet is sick or injured. Many pets are like part of the family, yet they are at risk of getting sick or hit by a car, more than any other family member. And vet bills can be extremely expensive in many cases.
Pet insurance is very similar to regular health insurance that you carry on yourself and your family. It could cover emergency visits, checkups, and immunizations. But if you want to save money, you can opt to cover all the routine costs, like immunizations, yourself, and only have the insurance cover major emergencies that you can’t afford out of pocket.
Since it’s quite possible for a vet bill to reach many thousands of dollars after an accident with a car, you never want to be in a position of having to make the decision to not pay the bill to save a family member.
The best rates can usually be found online, and there are comparison charts that show what is covered, how much can be paid out, and what the normal cost per month would be. Prices can range from as low as $15 a month to up to a $100 depending on coverage and conditions, so spend the time to check around.
Finding low cost insurance coverage is easier to do when shopping online because you can make adjustments to the coverage and see an immediate result. There are comparison tables that lay out all the differences in easy to read form to help you make the best decision possible.