Insurance is no fun. The best case scenario is that you pay for a service you don’t need. That’s why whenever an opportunity to save comes up, you need to act.
There are different things you can do to save on your various insurance policies. You can go online and use a comparison tool to shop around. I'm just going to put links to the SmartCoverage home and auto comparison tools here. Ahem.
You can bundle your policies together in order to get a discount on both. It’s basically like buying in bulk, but less tasty than a two-for-one pizza deal. Or any giant-sized packages you’ll drag home from Costco.
You can also look to take advantage of different promotions or deals offered by your insurance company. For example, many auto insurance providers will give discounts to drivers of a certain age, or drivers that have gone an extended period without making a claim.
If you’re looking to save money on your home insurance bills, you can try installing security features that will reduce the likelihood of a break-in or vandalism.
All of these options represent effective methods for reducing your insurance premiums. But sometimes they won’t have an impact unless you bring them up with your insurance provider.
You may qualify for any number of discounts, but your provider won’t necessarily rush to reduce your rate. Sometimes they might inform you that you are newly eligible, or that if you move a second policy over that you’ll get a discount, but the only way to be sure you’re getting the best available deal is to ask for it.
The best way to go about uncovering discounts is to visit your provider’s website and see what discounts they exhibit. If you see something you qualify for, but aren’t benefiting from, jot it don’t and give your provider a call.
Even if you don’t see any obvious discounts out there, it’s good practice to call your provider every year and note the changes that have occurred to your situation. Then find out how they might impact your insurance rates. Did you run your streak of safe driving to eight years? Tell them. Did you install a security system for your backdoor? Tell them. Did you get married? Tell them.
Sometimes your insurance company won’t know that you are eligible for a discount. Other times they may just keep it to themselves. Ultimately, it’s on you to take advantage of the various potential deals out there.
In lieu of any specific discount, it’s always worth negotiating. The price you’re offered doesn’t necessarily have to be the one you pay. If, for instance, you’ve been with a provider for five years and find a better deal online (again, comparison shopping is key) you can ask them to match it. Even if they don’t normally offer a package at the same price, they may make an exception to keep your business.
It’s always worth asking for a better deal. The worst possible outcome is that you continue to pay what you are already paying.