How to Save Money On Insurance

Finding ways to save money each month doesn’t have to be difficult, especially when you try to save money on insurance! If you are an adult and drive a car, rent a house, or own a home, you know all about having to pay for insurance every month. But that doesn’t mean you always have to pay full price. 

No matter what you need insurance for, there are ways for you to find lower payments and save a lot of cash! Here are some great tips on how to save money on insurance. 

A Good History

Having a good history can mean a lot of things. It could mean having a solid driving history, it could mean being on time with your home owner’s insurance, it could even mean having a good credit score. All of these things can influence how much you pay or save on your insurance. 

So whether you’re looking to find the best home insurance for a veteran, or the cheapest car insurance for males under 25, you definitely need a good history. Find ways to improve your credit score, maintain a good driving record, and pay all of your insurance on time. That way you can save more money in the long run! 

Not only that, but if you have a good history with your insurance provider, you can also save money. This can mean not having multiple claims filed each year, or even having some sort of long term loyalty. It never hurts to ask about your history with your provider to see if you can save money. 

Discounted Monthly Rates

The amount of discounted rates out there is actually quite staggering. Most people don’t realize they can simply ask for discounts in order to save money on insurance. Though you can’t demand a lower monthly rate, there are definitely things you may not have thought about that could get you a discount. 

Here are a few reasons why you can find discounted rates:

  • You are a senior citizen
  • Active military status
  • Veteran for the Military
  • Customer Loyalty programs
  • Company and Employer Programs
  • Government employee
  • Family bundle discounts

Of course, these aren’t the only reasons why you could get a discount on your insurance costs. Be certain to check with your insurance provider for loyalty programs and all of the discounts that are available to you and your family. 

You Can Shop for Insurance

Just like you can shop for a new coat, or look at multiple dealerships for a car, you can definitely shop around for insurance. You don’t necessarily have to go with the insurance your company provides, or the one that was the easiest to set up online.

You can use insurance calculators to find the best rates for you and your loved ones. Compare prices, find a provider that will give you the coverage you need for a price you can afford, and you’re on your way to getting amazing coverage and being able to save money on insurance every month. 

Save Money On Insurance and Still Be Covered

One thing that most people fear when trying to save money on insurance is losing valuable coverage. Don’t fret. If an insurance company can give you a discounted rate for the same coverage, you aren’t loosing your safety net for your home or car! You are still getting amazing insurance, but you just get to save a few bucks along the way. 

When it comes to being able to save money on insurance, there are lots of steps you can take to lower your monthly payment. Whether you shop around, find discounted rates for services you already have, or simply have an amazing credit history, you can find a rate that works for your budget. 

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7 Tips for Saving Money on Big Purchases

When it comes to saving money on big purchases, there is a lot of misinformation out there. However, there are ways to cut costs on big ticket items that are easy to understand. Here are some tips for saving money on big purchases that will help you get the most out of your buying experience. 

Do Your Research

One of the most important factors about saving money on big purchases is to be well-informed. You can’t just walk into a car dealership and say “eh… what have you got?”. You definitely need to come prepared. 

Here are a few things you should look into before you even leave your house: 

  • Your budget
  • Possible costs of your big item
  • Brands, Companies, and Dealerships with a good reputation
  • Seek expert advice
  • Monthly/yearly fees and taxes
  • Insurance needed

The more you know about your big purchase, the more money you can save. So whether you have to earn about how to do a VIN check to find insurance rates for a car, or the price history on a house you love, you need to know everything you can!

Shop Around

Though some places are going to be better than others for large money items, it’s best to shop around. If you’re looking for a car, go to more than one dealership. If you’re shopping for a home, talk to more than one realtor. Just because it’s the first place you go to, or the best place you’ve heard about, doesn’t mean they will have the best price. 

Haggle Your Price

Saving money on big purchases means knowing how low you can go. When you did your research for your big ticket item, you probably saw a wide range of prices. This information gives you an advantage for haggling. 

Cars, Homes, Motorcycles, and even cheap auto insurance and home insurance can be negotiated. Whether you call in a discount, or simply know market values, almost any price can be lowered. Even the smallest percentage helps when saving money on big purchases. 

Discounts and Lowered Prices Where You Can

You would be surprised at all the discounts available for bigger items. Let’s say you are looking to buy a house. You can get discounts and lowered rates on inspections, repairs, even the overall cost of your home. 

Though it may not be called a “Discount” everywhere you go, you can always find money saving phrases for big ticket items. Look into things like short sales and foreclosures, as well as dealerships looking to get rid of last year’s products. 

Bigger Down Payment

Paying more up front can actually help you in saving money on big purchases. If you agree to make payments over time, a big down payment will lower the percentage of money you pay each month. Not to mention lower the overall interest earned for the item. This is called a lower loan-to-value ratio, and makes borrowers more willing to work with you. 

So whether you are paying for your home, or a new car, if you can afford a larger down payment, definitely do it! 

Larger Payments Over Time

If you took out a loan to pay for your big ticket item, you need to pay more each month if you can afford it. If you take out a loan for $200,000 for a home, you may actually end up paying closer to 220,000 over time. The larger payments you make now, the less interest is accrued. 

Lower Interest Rates and Fees

You can always negotiate fees and rates for things like insurance and mortgage payments. Not to mention insurance rates for your car or home. Don’t be afraid to ask about discounts in order to save more money in the long run! 

Saving Money On Big Purchases is Easy

Following these seven tips can help you easily save money on big purchases. Don’t be afraid to haggle, or make a bigger down payment. You have done your research, and you’re ready to make this purchase with confidence if you follow these simple steps! 

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