When you look at your budget, insurance might not be on top, but it’s probably one of your larger expenses. That’s why most people would love to save money on insurance. The problem is that cheap insurance often means poor coverage. But, it doesn’t have to be that way. A good insurance agent can help you save money on insurance without sacrificing coverage.
The biggest difference between an insurance agent and an insurance broker are the number of options available. An insurance agent is committed to one company, while a broker represents many companies. The larger the broker, the more choices you have for both coverage and price. This can help you save money on insurance.
Find an insurance broker that represents multiple companies and have them put together the best package for your situation.
Each insurance company has its own pricing model. Many offer discounts or promotions for first-time clients. You should have your insurance broker or agent do a comparison when you first buy and each time your policy renews.
Insurers provide lots of discounts, especially for consumers who buy multiple policies from the same insurer. Many companies offer discounts if you’re a paperless customer. Most companies offer a discount when you purchase both homeowner’s insurance and auto insurance.
Don’t buy more protection than you need. As your business or personal needs change, make sure you notify your broker. Here are some common items that can save you money on personal insurance.
- Your teenager makes the Honor Roll at school.
- You no longer commute to work each day.
- That New Year’s Resolution stuck and you lost 40 pounds.
- You quit smoking.
- It’s winter and you have put your motorcycle or boat into storage.
- You install an alarm.
Just make sure that you always get adequate coverage for your needs. Your insurance broker can tell you where you can cut back and where you should not.
Change Your Deductible
If you have ready funds in savings, then raise your deductible. Self-insuring can save you quite a bit on insurance premiums. Once again, your insurance broker can help you find the perfect balance between deductible and premium.
Also, when it comes to auto insurance, consider how much your car is worth. If you are driving a car with a low Blue Book value, then you may only want to purchase liability insurance. There are risks involved if you have an accident, but you might be better served to bank your insurance savings in case you need to purchase a new car.
It doesn’t matter whether its personal insurance, commercial insurance, or a mixture of both. Call your insurance broker today and ask them to help you find the best insurance coverage for the lowest price. Then, ask them to guide you on how you can find further discounts or promotions.
Post Insurance has served the needs of businesses and homeowners in California for over 60 years. We provide all types of personal insurance and commercial insurance at the most competitive rates. Post Insurance is the largest Insurance Broker in the Torrance area, representing over 50 different insurance companies. Call today to schedule a consultation. Together, we can protect your property and the ones you love.