Personal insurance may include homeowner’s, auto and life insurance policies that can stack up in your monthly expenses if you don’t shop around for the best solutions for your own needs. Using the tips below, you can get the most out of your personal insurance policies without overpaying for your coverage.
Sit down with a professional
You might start your policy search online, but there is no substitute for the expert, detailed guidance of a professional. When you shop with a financial group, you can get the most bang for your buck because you will be presented with options for multiple carriers and avoid doing most of the leg work.
Consider areas you can save money
Another reason to consult a professional is to truly personalize your coverage so that you are not paying for areas of your policy that you will never use. Auto insurance is a particularly variable area of personal insurance, because there are many ways in which you might end up overpaying for your policy. For example, insuring a teenage driver with his or her own car can raise your monthly costs astronomically. If your teen does drive, keep the car solely in your name and list your teen as a secondary driver on the vehicle. You should also inquire about available discounts for your homeowner’s policy, because most insurance companies offer a range of incentives for these policies.
Combine coverage where possible
Most insurance companies offering multiple policy types prefer to have customers optimizing coverage under single policies, and this can save you up to 20% on your insurance.