Tips for Saving Money on Insurance

Now more than ever, it's difficult to meet the financial demands of our families, our households, and our lives. It can be tough to find ways to decrease expenses and save money. However, there are some simple things you can do to help control the cost of your homeowners or auto insurance that may just put a few dollars back in your pocket, without sacrificing your insurance needs!

For your Home...

  • Increase your deductibles. If you assume a small part of the risk by increasing your deductible, you can lower your premiums.
  • Protect your home. Install fire and burglar alarms and/or smoke detectors in your home – discounts are available in most states.
  • Insure to Value. It's important to know the proper value of your home so you don't underinsure. If you're not carrying enough insurance and you have a loss, you stand to lose more money than you will ever save through a lower premium.
  • Know your replacement cost. Your agent can provide you with an estimate of the amount of insurance needed to replace your home under current construction costs.

For your Auto...

  • Increase your deductibles. Again, if you assume a small part of the risk by increasing your deductible, you can lower your premiums.
  • Choose your vehicle carefully. If you are considering buying a new car, check with your agent how the rate for the car you want compares with other models. Premiums are often higher for most luxury and sport model cars because of higher accident repair costs, high performance engines, or auto theft.
  • Reduce your daily driving. Statistics show that the further you drive, the more likely you are to be involved in an accident – and the more you'll pay for insurance. Consider other means of transportation to work such as car-pooling or mass transit to cut down on your drive-to-work mileage.
  • Become a defensive driver. One at-fault accident or violation can increase your rates or place you in a higher-risk category.

Be aware of how and where you park. Often, the cost of vandalism and auto theft is overlooked and these factors drive up the costs of auto insurance for everyone.

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