Guide to Saving on Insurance

Insurance is one of those things we have a hard time appreciating until we need it. For the most part we loathe our monthly or bi-annual premiums and would give anything to get out of having to pay them. Unfortunately, insurance is a fact of life, but that doesn’t mean it has to cost more than it has to.

Regardless of type, insurance is a place where serious savings can be found if you know where to look and what to do. Considering these safeguards against misfortune and catastrophe are essentially and sometimes literally mandatory, any bit of reduced payout is a plus.

Here are four of the most common types of insurance taken out by working professionals, and the ways in which one can chip away at their pesky premiums:

Healthcare

The majority of people are insured by an employer and don’t have to fret about health insurance savings. But for those self-driven ladies out there with their own businesses and practices health insurance responsibilities rest on their own shoulders. Being a nonsmoker and reducing your intake of alcohol are always the go-to ways to see savings on your monthly health insurance premiums.

Visiting the Healthcare.gov Marketplace is also a smart idea, if not downright necessary. You could be eligible for tax subsidies which dramatically reduce monthly payments without compromising coverage. You can also get  information on the health care reform tax credit by visiting Turbo tax’s website.

Auto

 

Operating a moving vehicle responsibly, whether male or female driver, is by-far the most effective way to keep auto insurance premiums down. But sometimes even that isn’t enough; bad credit can often lead to an increase in auto insurance rates. Same goes for your zip code and other variables often out of your control.

When shopping for car insurance online, it’s a wise move to focus on non-standard specialists if you’re someone with a less-than-perfect credit score or lingering teen driving history. This can save you big, however we once again must stress: safety equals savings!

Life

Once again we find ourselves in a situation where responsible lifestyle choices can have a huge impact on the payment. Height/weight ratio, blood pressure, and diabetes status are just some of the many health factors which go into determining someone’s life insurance premium. If life insurance is going to be a part of your monthly or annual budget sooner or later, than it’s cheaper to do it sooner, as younger folks tend to have much cheaper rates.

Home/Renters

More and more women are becoming independent homeowners, which requires homeowners insurance. Proving you have smoke and carbon monoxide detectors, deadbolts, and a basic burglar alarm can each individually result in up to five percent off the premium. This holds true for renters too, so if your apartment, condo or rented house lacks any of these components, pressure the landlord to make the installation. Whether owning or renting, review the policy annually to make sure you aren’t needlessly covered for items no longer in your possession, and adequately covered for the valued additions.

Insurance can be one of the more painful of payments to make on a monthly basis. It is also, however, one of the few places where the exact price you pay varies from person to person. With that said, the potential for savings is great. The bottom line is be safe and act smart. Lowered insurance costs are sure to follow.