If you consider it, you may actually save up to several hundred dollars
if you purchase insurance from a low-price but licensed insurer.
Compare prices of the insurance departments in your state and get
the lowest price but most practical company. Negotiate a lower selling
price with a broker who works for you and not as the mediator to the
seller. There might be a conflict of interest if there are too many
individuals involved. So negotiate with just the broker.
Deductibles are the sum of money you have to pay towards a loss
before your insurance company begins to pay a claim, according to
the terms of your policy. The higher your deductible, the more cash
you may save on your premiums. Today, most insurance companies
advocate a deductible of at least $500.
If you are able to afford to raise your deductible to $1,000, you might
save as much as twenty-five percent. Remember, if you live in a
disaster-prone area, your insurance might have a separate deductible
for particular kinds of damage. If you live near the coast in the East,
you might have a separate windstorm deductible; if you live in a state
vulnerable to hail storms, you might have a separate deductible for
hail; and if you live in an earthquake-prone place, your earthquake
policy has a deductible.
A few companies that sell homeowners, auto and liability coverage
will take 5 to 15 percent off your premium if you purchase two
