Posts Tagged ‘Insurance Premium’
Cheap Home Owner Insurance - Self Insure And Save Money
The whole concept of insurance revolves around protecting the assets of an individual from financial loss due to an unpredictable event. The reason that we purchase insurance is to protect ourselves from financial disasters. We rely upon the insurance company to take on the risk in exchange for the premiums that we pay. The average consumer spends very little time thinking about insurance purchases. The insurance professional is expected to do most of the thinking for us and advise us on what is best.
There is a simple principle that can be applied to almost all of your property and casualty insurance purchases that will save you premium pounds. Self insuring is that principle. The smart insurance shopper eventually grasps the concept of self insurance. The whole idea around self insurance is using deductible options and eliminating unnecessary coverage. The days of the £100 Collision deductible on auto insurance is fading fast and it should. The higher deductible saves you in premium pounds. That is what we call self insuring. When you change your deductible from £100 to £500 you are taking on the risk for the first £500 of physical damage. You can do the same on the homeowner’s policy. You will lower your premium and still be covered for any major loss.
You will save a ton of money in the long run. You don’t have enough claims over a lifetime to warrant having a low deductible. You are paying the insurance company money for services they may never perform. You will save thousands of pounds by keeping your deductibles £500 or higher.
There are a lot of optional coverage’s in auto and homeowners insurance that you may want to eliminate to save money. Most states have tort options. Tort is your right to sue. Full tort verses limited tort can sometimes be a difference of 20% in your auto insurance premium. Rental reimbursement and towing benefits are added onto auto insurance all the time. You may want to self insure for these and save premium pounds as well.
The insurance purchase can be easier and more affordable if you can grasp the mindset of self insuring. Your agent will welcome your thinking on this because most agents think self insurance is best for their customers.
Tags: Auto Insurance, Company Money, Deductible Options, Deductibles, Financial Disasters, Home Owner Insurance, Homeowners Insurance, Insurance Company, Insurance Premium, Insurance Professional, Insurance Purchases, Insurance Shopper, Optional Coverage, Principle Insurance, Property And Casualty, Property And Casualty Insurance, Purchase Insurance, Rental Reimbursement, Self Insurance, Unpredictable EventRelated posts
Affordable Homeowners Insurance In Arizona
Finding affordable insurance in the state of Arizona may not be as difficult as you think as long as you are armed with a bit of insurance information. If you know how the insurance companies think, it will be easier to present your home in a way favorable to your insurer. Here are a few tips:
1.Check your credit: Did you know that insurance companies in Arizona have the right to check your credit and use that information in determining your insurance rate? According to insurance company statistics, credit rating is a good indication as to whether or not you will submit many and large claims. They have found that policyholders with poor credit tend to put in more claims than policyholders with good credit.
2.Seek discounts: If you are a member of a professional association, you may be entitled to insurance premium discounts. Some companies offer credits to senior citizens 55 and over. Ask your insurance company which credits you may qualify for.
3.Do not insure the land: In the event of a total loss, the land will still be there. Do not include the value of the land in your policy limit. Remember, the insurance company’s goal is to help you to return to a pre-loss state. If your house burns to the ground, remember, the ground is not affected.
4.When you find a company you like, stick with them. Insurance companies reward their loyal customers in the form of credit discounts.
5.Upgrade your house: If you live in an older home and you have upgraded your plumbing and electrical systems, let your insurance company know. The chances of them having to pay a claim because of a burst pipe or an electrical fire will decrease dramatically. All new systems can translate to premium savings.
6.Shop: Always shop around. The same risk rated by two different insurance companies may produce two different premiums. Search and compare.
Tags: Affordable Insurance, Burst Pipe, Company Statistics, Credit Rating, Electrical Fire, Electrical Systems, Homeowners Insurance, Insurance Companies, Insurance Company, Insurance Premium, Insurance Rate, Insurer, Loyal Customers, Plumbing, Policyholders, Poor Credit, Premiums, Professional Association, Senior Citizens, State Of Arizona