4 Ways to Spring Clean Your Insurance Policies
It is true that we, as a worldwide culture, have NEVER experienced what we are currently experiencing in 2020. No one predicted a global quarantine for months! But alas, here we are, and a large percentage of us are working from home and homeschooling our children. With this change in our routine, many people have started and actually completed house projects, yard projects and tackled spring- cleaning more thoroughly than ever. I know I have. So, how can you take that spring-cleaning passion and apply it to your insurance policies? Well, we are here to give you 4 simple and practical ways to do just that and save you money!
- Call Your Agent If You Have One.
Call your agent and ask them to review your rates and see if there are better options for your house, car, health and life insurance. If you don’t have an agent, look at your monthly/yearly payments and start to compare rates yourself.
- Compare yearly payments to monthly payments.
You can save yourself a good chunk of change by paying your insurance upfront in a yearly payment instead of monthly. Not everyone can afford to do this, but if you can, it saves you money in the long run.
- Inform your agent or provider about good driving records and house upgrades.
Many auto insurances have better rates for good driving records, i.e., no tickets or accidents within a given amount of time. If you have improved these areas over the last few years, it may save you money. Insurance companies’ definition of a “good driver” vary, so make sure that you are getting the best rates on your excellent driving from the company that appreciates it most. This may mean you have different auto insurance for the different drivers in your home.
As people are working diligently on improving their homes, inform your agent or provider about those improvements. While they do not need to know if you finally painted your house that beautiful light gray color, they should know if you have improved the structure, roof, fence, AC unit or water heater, or if you have added a security system or water shut-off devices. These upgrades could qualify you for better rates.
As about other home improvements that can lower your rates.
- Know and understand insurance terms and verbiage.
Knowing is half the battle in many cases, and insurance definitely is one of those cases. As the client, you need to understand terms like blanket coverage, benefits, claims, copay, coinsurance deductible, conditions, deductible, dividend and so much more. Do a little research on your own or call your agent. They should be more than willing to explain things and make sure you understand your policy and all the terms.
Here at Caton Hosey Insurance, our agents are available to answer any questions you have. “Just Ask” is one of our mottos. No question is too small. So, add Update Insurance Policies to your spring-cleaning list and call us today.