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TweetCarrying insurance is a must. Without it you could be financially devastated if disaster strikes. An automobile accident or a fire could wipe you out. That means being adequately covered with policies for your home, life, health and auto. It’s no wonder some people complain about being insurance poor. So, the objective is to protect yourself, preferably without paying too much for your insurance coverage. Following are a few tips on how to get cheap insurance quotes.
Determine Your Needs
The first step in finding cheap insurance is to determine your needs. Sit down with a pad and pencil and make a list of everything that needs to be covered by insurance. Try and figure out the extent of coverage you’ll need so when you go shopping you won’t buy too much or too little coverage. Determining exactly how much coverage to get can be tricky, but if you spend the time to figure it out now you could save a bundle when you buy your insurance policies.
Go Shopping Online
Once you’ve figured out how much coverage you’ll need, and in what areas, then you can begin the process of acquiring insurance policies. The first step is to go shopping for the best price you can get. You can start by going on the Internet and getting a few quotes from online insurance companies. You will have to fill out their standard forms, providing them with the information that is required so they can give you a quote. In order to speed up this process you should have your list on hand that contains the types and amounts of coverage you think you’re going to need. Visit a number of different websites and fill out their forms so you will have a number of quotes to choose from. Don’t settle for the first one that seems to offer a fair price, because you can always use that quote as leverage with other companies, including the more traditional brick and mortar insurance carriers.
Traditional Insurance Companies
Many people feel that buying insurance online is far too impersonal, even though the quotes may seem reasonable. In fact, online quotes may be cheaper than dealing with a traditional brick and mortar insurance company because they don’t have the overhead of running a walk-in business. However, when you need to file a claim it’s nice to be able to talk to a live human being–in person. That’s a perk you may not be able to get if you buy from an online insurance company. Once you’ve done your initial online shopping, you should begin calling the traditional insurance companies and explaining your needs to them. Tell the agent what kind of coverage you’re looking for, and ask for their best price. Here’s where your cheap online quotes can come in handy. After the agent has given you an offer, tell them the price you were quoted and ask if they can meet or beat it.
Discounts
In talking to the insurance agent about pricing, make sure you ask about the availability of any discounts. Find out what discounts are available, and what the qualifications are in order to be able to take advantage of them. Frequently, insurance companies will offer special rates if you bundle your polices–combine them into one policy– because most insurance companies are able to offer reduced prices if you take out home, health, life, and auto insurance with them. You may also qualify for various other price breaks, like a discount on auto insurance if you’ve been accident free for an extended period of time, or a reduction in rates if you agree to pay your premiums annually instead of monthly. The insurance company may be willing to do this because it will mean less paper work for their employees, and will save the company money in the long run. Your agent will probably explain that if you stay with their company for a long time you will be rewarded with lower rates.
High Deductibles
A proven method of reducing your insurance payments is to carry high deductibles. Ask your agent what the savings may be for a variety of high deductible policies. For instance, you would more than likely have to pay more if your deductible was $500.00 than if you opted for a $1,000.00 deductible.
Make a Decision
After all is said and done, you will have to make a final decision. Consider the pros and cons of dealing with an online insurance company, and weigh them against the personalized service and possible discounts of a traditional insurance company.
Guest post from Karen. Karen writes about cheap insurance quotes for InsuranceQuotes.org.
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