When it comes to insurance, we believe that no one is opposed to the idea of saving a little more money. At isure, we make having more money in your pocket our top priority. By doing all of your shopping for you to find the best rates, you can rest assured you are getting the best deal out there. In addition to using isure, there are many tips and tricks out there when it comes to saving money on your insurance. Luckily, isure has compiled a list to help you save even MORE on your insurance. Read below to find out the many ways to save on insurance like a pro.
1. Bundle your policies together
This is the most highly recommended step you can take when it comes to saving money. It is also one of the easiest steps to take. If your home or condo and auto insurance policies are with the same insurer, bundling them together in one policy is one of the most efficient ways to cut down your insurance costs. This can also be done with other policies, such as tenant, boat or cottage insurance. On top of this, only having to deal with one insurance company is a huge bonus and makes your payment process a lot easier.
2. Save on insurance by increasing your deductible
When in comes to increasing your deductible, this can be a great way to save on your insurance costs. By agreeing to pay more out-of-pocket in the event of an insurance claim, you can drastically lower your monthly premiums. By increasing your deductible, you are agreeing to being held responsible for a larger part of potential claim costs. However, when doing this, you must ensure that you can afford your deductible in the event that you do need to make a claim.
3. Pay your premium annually to save on insurance
Paying your insurance premiums annually is almost always the most cheapest option. Many insurance companies will offer you a discount when you pay in full. This is because it costs more for an insurance company when you pay monthly due to having to manually process your payment every month. On top of this, paying your premium annually cuts costs when your insurer charges financing or administrative fees. Remember to always make sure you can afford a lump sum payment!
4. Talk to your isure broker about other discounts
The only way you can find out if you are eligible for more discounts is to ask! There are plenty of insurance discounts out there, you just need to inquire about them. For example, did you know that if you don’t smoke, you can save on your home insurance? This is because you are drastically decreasing your chances of a house fire or other fire-related damages. Similarly, you can often get a discount on your auto insurance if you have taken a driver’s course or have more safety features in your car.
5. Consider telematics insurance to save on insurance
Telematics insurance, or usage-based insurance, is quickly becoming a great way to save on auto insurance. This works by proving to your insurer that you are a safe driver with good habits by installing a device in your vehicle that tracks the driver’s braking, cornering, speed and overall driving habits. Therefore, you can possibly be eligible for a lower premium. This is also a great option for drivers who need insurance but are having trouble acquiring it.
6. Consider your insurance when making big life changes
We don’t mean that insurance should take over your life. But, as your life changes, your insurance does, too. Notify your insurance broker about your major life changes because you may see it impact your premiums. Remember, if you are searching for any type of insurance, from auto to home, isure has you covered! Request a quote today.
For more advice, check out some of our additional tips to save on your renter’s insurance, home insurance and auto insurance.