Get over the hype of discount insurance prices.Let's face it. There is no huge discount insurance, or guaranteed coverage savings from choosing one company over another. Insurance quotes are prices determined by several different factors, and insurance providers have only as much information, honest or implied, as you have given them. They have no way of predicting the type of coverage you will need.
Focus on your protection. Auto insurance protects against automobile accidents. Life insurance policies protect against the financial woes of untimely death. The coverage is the basis of the deal. Paying for less coverage isn't always the best idea. In the event of some misfortune, you may end up losing more cash than your policy was initially saving.
Incorporate your insurance into your overall financial planning process. Try an alternative method, such as raising your deductible to reduce your premium. Consider term life insurance as opposed to whole life insurance. The best way I can explain this is by giving an example of John Doey. John Doey decides to go with term life insurance ($75 monthly) over whole life insurance ($150 monthly). Let's say the coverage is for 30 years, when it has run its course John will have saved $27,000. He should have reinvested his saved money in profitable ventures, such as interest bearing accounts, stocks, education, business etc. I am not telling you to skimp on coverage as a means to fund your ambitions. I am telling you that when you lower your coverage, you raise your own financial responsibility. This is a huge point to reflect upon when taking into consideration all the other things your money has to be able to do for you. Think, what can you afford not to protect?
Be your own insurer. Drive safely, treat your body well, manage your money wisely. The less of a risk you appear to be, the lower your premium. Taking extra steps to insure your own self can also help to PREVENT a large amount of the mishaps that insurance protects against.
Don't get sold. Don't take out a policy that you don't fully understand because of a good salesman or a pretty girl. While there are many honest, helpful, and caring salespeople in this world, there are tricksters, cons, and useless websites as well. I do encourage you to respect every presentation and sales pitch, as they may lead to valuable information about a particular provider, but not to overindulge in the exagerrations of modern advertising. A common rule is to get a quote from at least three different providers, allowing you to compare and contrast policies without the biased influence of a salesman clouding your judgement.
Get the coverage you need. If you are so cash strapped you can't purchase what you need, then you should consider an OVERALL financial strategy built to maximize your purchasing power.
Julian Floyd is a writer for http://thebestonlineinsurance.com |
