How To Save On Home And Auto Insurance

Auto Insurance If you just renew insurance policies each year rather than taking the time to review your coverage and discounts, you’re likely paying too much. Shop around annually (set a date in your calendar to help you remember) to see if you’re getting the best deal. You can contact a broker, or use sites like Insure.com or QuoteWizard.com. Ask your provider if they offer the following deals. Vehicle Insurance • Safety devices: Providers like State Farm and Geico offer a discount for daytime running lights, while Liberty Mutual and Travelers offer a discount for anti-lock brakes. • Young drivers: Drivers under 25 in your household can mean your rates skyrocket, but good students usually warrant a discount because they’re often safer drivers. Insurance companies may want to see proof of a B average in school. Home Insurance • Multiple plans: If you buy auto and home insurance from the same company, you can often get 5 to 15% off your rate. • Land value: Don’t mistakenly buy coverage for the price of your land in your homeowner’s policy – only include coverage for the price of the home. Land is not at risk of theft or fire, which is what you’re protecting from. • Modernizing/disaster prep: Ask your insurer – You may be able to add storm shutters, better roofing material, or modernize your electrical or plumbing systems to help lower premiums. Consider ways to get lower rates as soon as you purchase a new home or vehicle (homes in areas with lower crime rates or a professional fire department generally have lower rates. Vehicles with certain features like anti-theft devices can usually get a discount from auto insurers).