Slashing Your Insurance Premium

You can't turn on your TV without seeing the animated gecko that tells us that we should get competitive quotes for insurance in order to cut our premium. This is a tried and true method of lowering our premiums, but there are other strategies that can be equally critical.

How To Reduce Your Auto Insurance Premium

One way to get a better rate from an insurance company is to be or at least look like, a better driver. Your chance of costing them money impacts your chances of getting a good premium.

An individual with no tickets in the last 5 years will get a lower price than someone who has been arrested for driving while intoxicated. Someone who has been accident free will get a better rate than someone who has had a recent at fault accident.

Drivers Ed can help younger drivers get a better price. These courses are available in many high schools as well as from private firms.

Dropping the physical damage coverage you have on your automobiles can also help lower your costs. This means that you take more risk if your car is stolen, but does not affect what your carrier pays the other party if you are at fault in an accident.

How To Reduce Your Disability Insurance Rates

Shopping for price is a good idea when you are looking to add to your coverage or buy a disability policy for the first time. This is may not be true the case if you have had your contract for a while.

Rate shopping is usually not in your best interest if you have had your policy for more than a couple of years. This is because the price for a disability policy is generally based on the age you were when you bought the policy.

A good strategy to use when looking to cut costs on an insurance contract is to take more risk for the little stuff while making sure that the insurance company pays the bills for the larger stuff. With a disability contract you can do this by increasing the elimination period and extending the period the coverage will pay you after you have satisfied the elimination period.

The elimination period is the period of time you must be disabled before you qualify for benefits. If you are disabled for one month and then recover, the insurance contract will pay nothing if your elimination period is longer than one month.

How To Cut Your Health Care Insurance Costs

Do what you can to avoid major illnesses. Your health history affects how much you will pay for medical insurance.

This means that things like drive more intelligently, looking both ways before crossing can not only save your life, but can also lower your insurance premiums. Keeping a healthy body weight can also help.

You can also lower your costs for medical insurance by raising your deductible and shopping for a better rate every couple of years.

How To Lower Your Homeowners Insurance Rates

Location affects your homeowners insurance price. If you are looking to buy a new home, be sure to get an idea of what your house and auto insurance premiums will be when you move. There can be big differences between dwellings that are otherwise the same but are located in different zip codes.

Shopping around for a better price can also be a good idea. Homeowners policies are standardized. This means that for the most part you will be comparing apples to apples when you shop around.

How To Trim Your Life Insurance Prices

Life insurance costs are based on age, gender and health status. There isn't much we can do about the first two, but sometimes we can make positive changes to our medical.

If your medical has improved since you purchased your policy, you may be able to get a better rate. If you have stopped smoking you may get a better price.

You can get a more advantageous premium on your insurance policies by being perceived as less of a risk to the insurance carrier, taking on more of the risk yourself or simply getting a better rate from one of your carrier's competitors. Getting the lowest rate requires more than just shopping around, but it can be well worth it.