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Tips to Save Money on Insurancecredit-repair Insurance premiums combine to make up a substantial portion of most American's monthly bills. Between home insurance, car insurance, health insurance, and others, it is likely that you are paying many hundreds of dollars every month to protect yourself from the worst case scenarios that life sometimes throws at us.
But while carrying the proper amount of insurance is very important step in ensuring your long term financial stability (an estimated 60% of all bankruptcies results from medical bills), there are steps you can take to lower your monthly insurance premiums so you will save money while not sacrificing coverage.
Repair Your Credit Score
Over 90% of major car insurance providers take your credit score into account when determining auto insurance premiums. Why? Because studies have shown that on average, people with lower credit scores file more claims and in turn cost insurance companies more money. For this reason, if your credit score is hurting, expect to pay more for car insurance regardless of your driving record.
If your credit score is less than desirable, you may be able to repair it either by yourself or with the help of one of the many quality credit repair companies operating today. And as an added bonus, after improving your score, not only will you be able to qualify for lower insurance premiums, but you'll be able to save even more money via lower interest rates on credit cards and loans.
Get a Home Security System
Just like your car insurance provider will lower rates based on safety features in your car such as air bags and anti-lock brakes, home insurance providers will also reward risk reducing features in your home such as a home security system. If you already have a home security system, make sure your insurance company knows about it. If not, there are many good reasons to consider installing one on top of lowering your insurance rates. Even if you don't end up saving money since in many cases the money saved on insurance will be offset by the monthly monitoring fees, you'll still have the benefits of having a security system such as decreased odds of a break-in, intrusion detection, and fire alarms that will dispatch to your house even if you are not at home.
Bundle Multiple Insurance Products
Many insurance providers will offer a discount of 5 to 15 percent if you purchase two or more policies from them. Ask about discount for bundling and see if the cost of having multiple policies through one company is lower than carrying comparable policies with a variety of insurance providers. And while you are at it, if you have been with one insurance company for a number of years, see if you can get an additional discount for being a long-term policyholder.
Oveer 90% of people pay too much on insurance. This can cost you thousands! Your credit directly effects your insurance rates. Call CRE Credit Services or log onto www.CRECreditServices.com for a free consultation! - visitor