Whether we are talking about a business policy or a personal policy, these 5 tips will help you reduce your premium.
1- Insurance is a purchase that most of us purchase and hope we never use. Putting in multiple claims can almost certainly raise your premium. Asses your greatest risks, set higher but affordable deductibles, self insure the small things while saving on premium.
2- Credit Scores- Most insurance carriers use good credit scores to reduce premium. While sometimes this seems to be an unfair process, it can be an indicator of responsibility. Unfortunately, it doesn’t take into account some of life’s many obstacles such as losing a job. Never the less it does impact your premium so do your best to improve your credit score.
3- Review all your policies with a qualified agent. We have great experience in finding gaps in coverage that can be very costly and also duplicate or irrelevant coverage that may not be necessary.
4- Try to bundle your policies for greater discounts and one stop, time saving shopping convenience. Independent Agents do just that, representing many carriers to offer each person or entity more options. Captive agents represent one company.
5- Ask your agent about all the discounts offered on each policy. With a quick discussion you may find you are eligible for less known discounts such as Good Student on an auto policy or water shut off devices on Homeowner policies. Water claims account for nearly 30% of all property losses.
We hope these tips can help you keep more money in your pocket.