Are you struggling to pay your insurance premiums every month? Or maybe you just feel like you could be getting a better deal than you are. Whatever your reasons for wanting to lower your insurance rates, here are just four ways to lessen the burden of your premiums.
1. Raise Your Deductible
This is the easiest way to reduce your monthly bill. It comes with a drawback, of course; you’ll have to pay more if you ever actually file a claim. However, it can be a smart move if you don’t mind a large deductible or if you’re just looking for temporary financial relief. You can always adjust your deductible again in the future.
2. Look Into Deals and Discounts
Are you a senior? Are you a veteran? Do you belong to any brand loyalty programs? You might qualify for a discounted insurance rate. Don’t be afraid to reach out to your insurance company and ask; the worst that they can do is say no, and you won’t lose anything in the attempt. You can only gain something: a better deal.
3. Ask About Special Offers
In the same vein as the above, you might be able to lower your premiums if you take advantage of special offers provided by the insurance company. For example, an auto insurance company might be willing to cut your monthly bill if you take a driver’s ed course. A corporate insurance company might have a great offer for group captive insurance.
4. Cut Your Coverage
This is a drastic step, but if you just can’t seem to make ends meet, you might consider cutting back on your coverage. Instead of having a comprehensive policy that covers all accidents, injuries or surgeries, you might sign up for something that only covers half of these things.
These are just a few ways to lower your insurance rates. If you’re tired of struggling with your premiums every month, use these suggestions to find or work out a better deal. You’ll be glad that you went to the trouble when you can breathe around your bills again!