There are several ways to save money on insurance. If your bill arrives and you pay it without a second thought, maybe it’s time you shopped around to determine whether you’re getting the best deal. Rates vary widely from insurer to insurer and year to year. Reevaluating your auto, home or renters insurance might save you hundreds of dollars.
It’s also important to evaluate your insurance needs. For example, increasing your out-of-pocket deductible from $250 to $1,000 can save you 15% or more on your car insurance. Also, consider using the same insurer for your home and auto insurance — you could save up to 15% for a multiple-line policy.
Also, make sure you’re not paying for insurance you don’t need. Take life insurance, you need it only if someone is financially dependent upon you (such as a child).
Tags: deductible, dependents, insurance, reduce spending, saving money
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