Magasiner ses assurances April 20, 2017

Shopping for insurance without getting discouraged

You need insurance for your home, your property, and your car. Any discomfort you may feel about shopping for insurance will be lessened by knowing about the factors that determine your insurance costs. Here are a few steps you can take and tips you can follow to shop more efficiently and save on your premiums.

To start, contact the insurers

The best way to saving starts with contacting the insurers. We recommend that you shop around to find the insurance companies that offer the very policies that you need.

Ask the companies of interest about the cost of the premiums AND the value of protection offered, thinking about the worst possible scenarios.

We recommend having this discussion by phone. The savings you can get on the phone will be much more interesting – we are talking about a difference of 53% to 123%, in some cases.

If you already have a broker you deal with, take the time to also ask them to shop around for you. With the broker’s expertise, you will be able to compare the various types of insurance on the market better and choose the best policies for your situation.

Shop for home insurance

It’s noted that home insurance is less expensive when there are no claims on the file, as rates are based on the number of claims on record.

Thus, the closer this number is to zero, the better the rate would be. In addition, a home with smokers in it tends to cost more because of the potential fire hazard caused by cigarettes. Keep that in mind before making an application.

Finally, an anti-burglar alarm can lower your insurance further (until the deductible is gone altogether).

Shop for car insurance

Do you own a personal vehicle? Do you use it for work as well? What make is it? The insurance rates vary depending on the year, model, and make of the vehicle (which could mean there are some unpleasant surprises in stock for you). Take the time to check this information before making an application.

Has the vehicle been in any accidents? How high is your current deductible? The higher your deductible, the lower the cost of your policy, but always remember to properly assess the amount of damage you can pay for out of pocket.

Keep in mind

When asking for an insurance quote:

  • Focus on the “all risks” protection. The advantage is not only a wider coverage than the basic package, but also the fact that such level of protection usually comes with a guarantee that your premiums would not increase too quickly.
  • The fewer claims you make, the lower your premiums would be.
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