Cheap Insurance Holiday Savings

Tuesday, December 5, 2017

All I Want For Christmas Is Cheap Insurance

 

If all you are hoping for this holiday Season is to save a little money, you are in luck.

There are hundreds of ways to save on your insurance plan.

Whether you own one car or two houses, a boat and three vehicles, there are policy options for you out there!

Don’t feel like you have to tighten your belt anymore.

Cheap insurance doesn’t mean bad insurance.

Get your hands on the right price by asking the right questions.

For many of us, bills and payment plans are the last thing we want to be thinking about this time of year.

But, what if you could plan ahead and make sure that all of your ducks are in a row before Christmas starts?

What if you could save money now, and have more in your pocket for the holiday season?

The best way to start is to know what insurance is and what it can do for you.

Take your chances this winter by looking deeper into your insurance plan.

Here are some greats ways to save money and get the very best cheap insurance you can find.

 

What Should I Insure?

 

The things that you should insure depend on you and the state that you live in.

If you own a home, most people choose to have homeowners insurance to protect their assets.

This can cover things like liability for your house as well as structural damages.

In every state, you are required to have at least the minimum amount of car insurance.

This usually means liability and property damage coverage.

You see, insurance can be very simple or quite complicated.

So let’s break down your insurance policies by category.

You may not need to have insurance for all of these, or maybe one day you will.

Are you house hunting? Shopping for your teens new car?

You will want to know what you might need and how it will effect your rates.

 

Homeowners Insurance

 

What is homeowners insurance and who needs it?

Well, first of all, homeowners insurance is not the law.

Mortgage insurance is, but homeowners insurance is a choice.

Most people who take pride in their home and want to protect it, usually purchase homeowners insurance.

You have a home! What a feeling of accomplishment.

Maybe you worry that things could go wrong!

You may want to purchase liability coverage that comes with a homeowners insurance policy.

If someone is hurt in your home, you could be covered.

If something is damaged in your home, you could be covered!

There are extra options as well. Like hurricane and flood insurance.

 

Facts about homeowners insurance:

 

  • When you purchase a home, home lenders require you to have a minimum amount of coverage in order to protect what they are financing.
  • Homeowners insurance is in place in case a disaster such as a fire occurs and your home is destroyed. You will need it insured to pay off the loan on the home and recover damages.
  • Credit can be an important rating factor when looking for homeowners insurance. The difference in cost between someone that has excellent credit versus poor credit is nearly half.
  • homeowners insurance covers four basic types of insurance: structure, personal belongings, liability, and additional living expenses.
  • The location of your home, the construction type, roof slope and many other features contribute to how much your homeowners insurance will be.
  • You have a few different types of coverage: a cash value coverage, a replacement cost coverage and a guaranteed or exceeded cost coverage.
  • Not every type of damage is covered by homeowners insurance. Ask your agent if you have something specific you would like covered.
  • If you have a home-based business, your homeowners insurance could be a tax write off.
  • Neglect of the home is a red flag for insurance companies. You home should be in good shape. When severely damaged, you won’t get coverage.
  • Depending on what kind of dog you have, your liability insurance may not cover that particular breed in the case of a dog bite.

What is covered in a homeowners insurance policy?

 

  • Damage to your home, including permanent structures on your property—unless your policy specifically excludes the cause of the damage
  • Damage to personal property due to causes outlined in your policy
  • Liability coverage for legal matters or accidents that occur on your property
  • Loss of use, which allows you to maintain your lifestyle at another residence while your home is being repaired without incurring additional costs
  • Limited coverage for items such as stolen jewelry—the amount of coverage varies depending upon state of residence, and you always have the option to increase this coverage.

 

Ways to save on your policy:

 

  1. Bundle your policies. Find an insurance company that will do this for you and reward you for it!
  2. Pay annually instead of monthly. It may seem like a large chunk of money going out at one time, but in reality you could save hundreds every year by paying once instead of twelve times.
  3. Only have the insurance you need. Having more liability insurance is always a good idea, but having extra insurances such as flood or fire, when you are not at risk for these damages may just add to your bill.
  4. Install security features and safety features to your home. An alarm on your front door and an internal sprinkler system will help.

 

 

Car Insurance

 

Everyone wants to know how to save money on their car insurance policy.

Most people in this country own a car.

You need one right?

To get you to work and back. Or maybe to tote your children around to soccer practice.

Not only do most families in the United States have a car, they have multiple cars.

You might be one of these. So how can you save? What insurance do you actually need?

What is the best kind of car to have for saving on insurance?

Let’s look deeper into solutions to these questions. You might be surprised at what you find.

If you are traveling this holiday season, you will want to make sure your insurance policy is up to date and covers everything.

 

How much insurance am I required to have?

 

This depends on if you have a loan out on your car. It also depends on what state you live in.

But the rule of thumb for car insurance is that your minimum coverage is liability.

Liability always covers the other person involved in an accident.

This means that if you are in an accident, your insurance will pay out the other party for damages.

This does not cover you. Most people buy more insurance than the minimum for this reason.

 

Here is the breakdown:

There is a minimum amount of insurance that you must have in California:

  • Bodily Injury Liability Limits: $30,000 per occurrence/ $15,000 per person
  • Property Damage Liability Limits: $5,000 per occurrence

These cheap car insurance options will only protect the other party involved in a crash. There are other options which will protect your and your own vehicle.

More than just the minimum may include:

  • Medical coverage for you and your passengers- Medical coverage can make a huge difference for your security and safety.
  • Towing and roadside assistance- You may not only need this for a crash, but if you break down. Roadside assistance can save you time and money.
  • Rental reimbursement- You could be covered or reimbursed for a rental car when you are involved in a crash.
  • Uninsured Motorist coverage- this will make sure that you are still covered even if someone without insurance hits you.
  • Full glass coverage- this is additional coverage for your car to cover glass windows and doors.
  • Loan/lease coverage- when you have a loan or a lease out on a vehicle, your coverage needs to be different. Most of the time a full policy is required.

Savings…

 

Truth be told, you might as well get your car fully covered.

You will want to feel protected this holiday season.

But don’t let this scare you.

You can still save on your car insurance in many ways.

One way is to bundle. If you own a home, or a motorcycle, bundle this with your car insurance.

Take a drivers safety course and keep a good driving record.

Your insurance company will reward you for this.

Every year that you are safe behind the wheel, you can watch your policy rates drop.

It is a good idea to talk to a broker.

They have a better idea of what you might need and which insurance companies offer what you are looking for.

Just like with a homeowners policy, paying once a year instead of monthly will save you money in the end.

You might also qualify for discounts through an organization.

Are you a veteran? Do you belong to AAA?

 

Motorcycle Insurance

 

Motorcycle insurance is very similar to car insurance.

In most states you have the same minimum coverage required as your vehicle.

Keep in mind that it is much more dangerous to ride on two wheels than to drive on four.

Having a good motorcycle insurance plan is key to keeping you safe and alive this winter season.

The good news is that you can get all of your gear covered as well.

Motorcycle helmets are not cheap, so getting them covered may be beneficial.

Talk to your broker about this and what other savings you may qualify for when attaining cheap motorcycle insurance.

 

Life Insurance

 

Most people don’t spend a lot of time talking about life insurance.

Life insurance is a very important part of living and taking care of ones family.

Do the right thing and be prepared. You will not regret planning for the future.

Think of life insurance as protection for your loved ones and peace of mind for you.

 

What is life insurance and what can it do for my family?

  • Life insurance is a type of insurance you purchase for when you are no longer around. You leave an agreed upon sum of money to your chosen beneficiary. This money can be used for things which you choose if you leave a will. Life insurance basically makes it easier financially on those who you leave behind. Death can be a scary and expensive part of life. Make sure your funeral arrangements are covered and be prepared for the inevitable. Life insurance can help pay for your debts, mortgages, college for your child, or even grandchildren.
  • Life insurance is about planning ahead. It can provide financial security to those you care about, cover medical bills, funeral costs, mortgage, on other living expenses. If you are the primary provider for others, it can replace your income for them, or give them money for college or other expenses. Your policy can be used to earn a cash value that you can withdraw or borrow against later. When you are with your loved ones this Christmas, think of the love you share with them. You may want to consider a reasonable life insurance plan to keep them safe and ease your own mind.

More about life insurance:

 

  • A policy is a contract between a life insurance company and someone who has a financial interest in life value of someone else. Putting money aside for another individual in case of death can greatly benefit family and friends. There are over 800 life insurance companies in the United States. With this amount, you are most likely going to find the perfect policy to meet your needs. Only 60% of all Americans have a life insurance policy. There are a lot of families who will be stuck paying for the deceased.
  • The most popular type of life insurance is Term Life Insurance. Term life insurance is called “temporary insurance” because it’s meant to protect you for a certain amount of time. It comes in forms of 5 year term, 10 year term and all the way up to 30 and sometimes 40 year terms. If you die within the 20 years, your dependents will receive the money. After the 20 year term expires and you don’t convert or renew the coverage, you’re no longer covered.

 

All I Want This Christmas…

 

You may have a better idea about what kind of insurance you and your family need this holiday season. The holidays are a perfect reminder about what is important in life. How can we better protect ourselves and the ones we love. All you want for Christmas is a cheaper insurance policy? Read this blog and call your broker. Find ways to cut costs and ask about discounts. There is no right answer, but there is only the answer that is right for your own family. Know the laws and regulations for insurance in your state. Be informed!  This is the number one way you can save money. Don’t be afraid to add that new car to your christmas list this winter. Live your life and save by knowing your rights as a consumer.

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