Ways to lower insurance costs

VA Loan Texas
September 16 2022 | By Elevation Construction

It's hard to get through life without paying for insurance. In fact, if you have a family, you probably have several insurance bills – for your health, car, home, and, of course, your life.

Here are some ways to lower insurance costs:


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Check insurance comparison websites or ask friends and family for recommendations. Just don't cancel before you get another policy. Something could happen to your car (or you) when you’re between policies, and some insurers that learn you aren't covered may deem you irresponsible and charge you more than they would otherwise.



Show insurers you're safe.


Insurance is all about mitigating risk. So if you lessen the odds of something bad happening to you or your property, insurers often reward your safeguarding. "Smoke alarms, burglar alarms, and automatic sprinkler systems in the home can really reduce costs”.


Tinker with how you pay your monthly premium.


Most insurers will shave a modest amount off your policy (like $5 a month) if you make an annual payment instead of paying monthly. If you can swing it, you could save $60 a year and not have a monthly payment to worry about – for the next 11 months, anyway. Or if you raise your health insurance deductible, you could lower your monthly payment significantly.


Review your insurance with your agent.



You may feel like you're walking into the lion's den, but a meeting with your agent may pay off, especially with homeowners’ insurance. Review the replacement cost on your home, or any other property you insure, every couple of years.

Improve your credit.

Consider that a lot of insurance companies look at policyholders’ credit reports. So if you can reduce your debt and keep paying bills on time, you may pay less for insurance in the future.