CHAPTER 9 Ways to Lower Your Premium
Money-Saving Tip: Shop Around
Have you ever been surprised by an unexpected premium increase? If so, what did you do? A lot of people end up paying more for their insurance simply because they feel loyalty to the company. Or maybe because they just don’t want to spend their time researching and making the switch. If this is you, I get it. But I also like the idea of you saving money. That’s why I’m here — to research other options for you and see where you can save. Keep in mind that this doesn’t mean you have to switch — maybe the rate is comparable to what other companies are offering. But you won’t know until you ask. And speaking of asking, if this does happen to you, be sure to check with your insurer to find out why the increase happened in the first place. Maybe there’s an error or a way to bring the cost back down. The simplest way to lower your premium is to choose a higher deductible, which I mentioned in the previous chapter. However, you need to make sure you can afford to pay it all at once if something happens. The same thing applies to choosing a plan with lower coverage. If you can afford to pay anything your plan doesn’t cover, this can be an option.
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