Unlike other aspects of our lives, picking the right insurance is really quite serious but picking the right insurance agent is even more serious. When picking your insurance agent, imagine that you are picking a new family member; you are going to want someone who is honest, hardworking, and dedicated. Picking the right insurance agent can save your family hundreds of dollars a year if they give you the right plan, but how can you assure that your agent is giving you the right rate? There is work for you to do in order to get the right insurance rate and there is work that needs to be done on behalf of your agent. Let’s take a closer look at how to make sure you’re getting the right rate.
Raise your Deductibles
Through raising your deductibles you can lower your monthly payment giving you a rate that will help put money back in your wallet. According to USA today, raising your deductible can actually lower your monthly premium by up to 40%. Have your insurance agent double check the numbers in order to insure that you will actually be saving money instead of coming out even.
Although in a perfect world, insurance agents could snap their fingers and give you the best rate available, you have to do your part as well. If you have good credit, you are more likely to get a better rate because insurance companies know that you are serious and that you are doing your part. If you have bad credit, work towards raising your credit score in order to receive the best rates possible and put money back in your wallet.
Do Your Part
Although your insurance agent should be doing everything in their power to get you the right insurance rate, you have to do your part as well and take extra precautions to show that you are doing your part to lower your collision rate (for car insurance), hospital visits (for health and life insurance) and taking good care of your home (for home owners insurance). The less you look like a liability to an insurance company, the more likely you are to get good rates. Here is a brief check list of things you can personally ask yourself before meeting with your insurance agent:
- Do you have speeding tickets?
- Have you been in an accident in the past 6 months to a year?
- Do you park your car in a garage where it is safe or in a place that is out in the open like on the street?
- How often do you drive your car?
- Do you take the bus or other public transportation?
- Do you have any pre-existing conditions?
- What is your family history?
- How many times did you frequent the doctors office last year?
- Do you get a check up on an annual basis?
- Do you smoke cigarettes?
- Do you drink alcohol?
Home Owners Insurance
- Do you live in an area where natural disasters such as mud-slides, tornadoes, hurricanes, or fires are frequent?
- Did you home pass inspection?
- Do you live in a neighborhood with a high crime rate?
If you answered no on the majority of the above questions then you are more likely to get lower insurance rates but if you answered yes, be sure to address your concerns with your insurance agent to see if they can get you a better rate.
Do Your Research
Because the economic market is always fluctuating, so are insurance rates. Although your insurance agent should be aware of the most current rates available, double checking their work is just as important as double checking your child’s homework. Oftentimes agents are trying their hardest to provide you with the best rate that they can overlook something that will reduce your monthly or annual income.
Sam Pollock is an avid blogger who has studied construction management and maintained an interest in current marketing trends. Sam has worked with companies on their marketing strategies by helping them with online surveys and annual marketing reports.