insurancebillsUS (12/1/2013) Over the course of their lifetimes, men and women can expect to spend thousands of dollars on insurance. People insure their vehicles, homes, health, lives, and a host of other things, and the cost of such security can be significant. Considered essential by many men and women, insurance is unlike any other product or service, as people will pay for it all the while hoping they never need it. That reality leaves many policy holders wondering if there are any ways to save on their insurance policies without diminishing their coverage.

Though insurance companies consider a host of factors when determining the cost of each individual policy, there are some ways that all men and women can reduce their insurance bills.

* Bundle your policies. Multi-policy discounts, which many insurance companies offer to policy holders who combine two or more policies, can save men and women substantial amounts of money. Purchasing homeowners', automotive and life insurance policies from the same provider saves consumers an average of 10 percent, and such a discount can add up to a significant amount of money over the life of your policies.

* Comparison shop. Though shopping for insurance might not be as fun as finding your next television or test driving cars, comparison shopping when buying insurance can save policy holders a significant amount of money. The cost of insurance often varies significantly from provider to provider, and consumers should exercise due diligence when looking to cut their insurance costs. Comfort level with an existing insurance provider should not outweigh the savings you might earn elsewhere, especially if another provider can offer you the same exact coverage at a much lower price. You may even be able to lower your existing policy if you contact your current provider and inform them you have received a more affordable estimate with another company.

* Consider specialist companies. A handful of insurance companies specialize in particular types of insurance. For example, one company might specialize in motorcycle insurance and might be more capable of tailoring your policy to your particular driving habits, offering you discounts depending on how many years you have been riding motorcycles. However, a more general company might simply lump you into one big group, meaning you're likely to earn similar rates as novice riders without your experience. There are specialist companies offering various types of insurance, so look into such companies if you have special needs or less popular hobbies that require insurance.

* Stop paying for duplicate coverage. Many people can trim some of their monthly insurance costs by combing their existing coverages to determine if they are paying for duplicate coverage. For instance, your auto insurance policy may include health coverage, but chances are your existing health insurance will trump the health coverage offered by your auto insurance policy, meaning you're paying for the same thing twice. Examine each of your policies to determine if you are paying for any duplicate coverage, and then contact your provider to remove such items if you find them.

SurfKY News

e-max.it: your social media marketing partner

LIKE SurfKY on Facebook - Click here to LIKE us now.

© Copyright 2015 SurfKY News Group, Inc. All rights reserved. This material may not be published, broadcast, or rewritten without permission. SurfKY News encourages you to share this story on social media.

In Other News...

KY FAME Expands to Greater Owensboro

FRANKFORT, Ky. (5/26/15) — Kentucky's nationally recognized workforce training program is coming to western Kentucky.… Read More

Providence Police Reports Released

PROVIDENCE, Ky. (5/25/15) — The Providence Police Department released the following reports Monday, May 25. Christopher… Read More
1 DOW 18,041.54
0.00 (0.00%)    
2 S&P 2,104.20
0.00 (0.00%)    
3 NASDAQ 5,032.75
0.00 (0.00%)    

Most Read This Week

May 22, 2015 7477

Madisonville Man Charged with First-Degree Rape

by SurfKY News
May 23, 2015 7152

Missing 5-Year-Old Boy Found

by Doreen Dennis, SurfKY News
May 20, 2015 3589

Pennyrile Forest State Resort Park Holding Beach…

by Gil Lawson
May 21, 2015 3359

Police Charge Madisonville Man with Harassing…

by SurfKY News
May 25, 2015 3291

Can Sunscreen Save Your Life?

by Melissa Patrick

Most Read This Month

May 15, 2015 10768

New Madisonville Business In Full Operation Soon

by Tammy Holloway, SurfKY News
May 15, 2015 7572

Investigation of Local Barber Shop Leads to Drug…

by SurfKY News

Stories Trending Now

May 25, 2015 3291

Can Sunscreen Save Your Life?

by Melissa Patrick
May 25, 2015 2217

Hopkins Man Injured in Muhlenberg Motorcycle…

by SurfKY News
May 25, 2015 1882

UPDATE - MPD Seeks Three in Residential Robbery

by SurfKY News
May 26, 2015 1871

Large Necklace on Rearview Mirror Lands Driver in…

by SurfKY News
May 26, 2015 1840

Mandarin House Gearing Up to Open Soon

by Gary Gates, SurfKY News
May 26, 2015 1616

Governor Announces Hopkins County as Kentucky…

by Doreen Dennis, SurfKY News
May 25, 2015 1227

Seniors Celebrate with Cook-out, Games, Fellowship

by Tammy Holloway, SurfKY News
May 25, 2015 1203

Damascus Road House Leads Young People to Christ

by Tammy Holloway, SurfKY News
May 26, 2015 1016

Veterans Honor Veterans

by Tammy Holloway, SurfKY News
May 25, 2015 1010

Muhlenberg District Court Fines Handed Down

by Charles W. Riley II, SurfKY News