Pick Your Community: | Hopkins | Muhlenberg | Daviess | Christian | Fayette | Henderson | Lakes | McCracken | Warren | Webster

Simple Ways To Save Money On Insurance Costs

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

© Copyright 2014 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 by using one of the social media links below.

Most Read This Week (Site-Wide)

July 08, 2014 9667

UPDATE: Arrest Made in Shooting Death of…

in Top Stories by Charles W. Riley II, SurfKY News
July 07, 2014 5482

Madisonville Police Bust Prostitution…

in Top Stories by Major Chris Taylor
July 07, 2014 4883

Parents Arrested for Leaving Minors in Car

in Top Stories by Madisonville Police Department
July 06, 2014 4852

Hanson Man's Body Discovered in House…

in Top Stories by Information provided by Det. Shawn Bean
July 07, 2014 2734

MPD Responds to Fight, Drug Arrest Results

in Top Stories by Madisonville Police Department

Most Read Stories from Hopkins County

July 07, 2014 5482

Madisonville Police Bust Prostitution…

in Top Stories by Major Chris Taylor
July 07, 2014 4883

Parents Arrested for Leaving Minors in Car

in Top Stories by Madisonville Police Department
July 07, 2014 2734

MPD Responds to Fight, Drug Arrest Results

in Top Stories by Madisonville Police Department
July 09, 2014 2688

Madisonville Woman Arrested for Alleged…

in Top Stories by Madisonville Police Department
July 08, 2014 1846

Mother Arrested at Days Inn Bar for Child…

in Top Stories by Madisonville Police Department

Most Read Stories from Owensboro

July 07, 2014 1135

Section of Kentucky 1456/Newbolt Road in…

in News by Keith Todd
July 08, 2014 1047

Nashville Predators are Coming to the…

in News by Brittni Bunn
July 08, 2014 939

Owensboro Police Department Reports…

in News by Dennis Beard, SurfKY News
July 08, 2014 918

Owensboro Neighborhood Alliance Meeting…

in News by Abby Shelton
July 07, 2014 546

Owensboro Man Charged with Attempted…

in Top Stories by Dennis Beard, SurfKY News

Most Read Stories from Muhlenberg County

July 08, 2014 9667

UPDATE: Arrest Made in Shooting Death of…

in Top Stories by Charles W. Riley II, SurfKY News
July 07, 2014 2368

Life of Muhlenberg Son Hank Becker to be…

in Top Stories by Paul McRee, SurfKY News
July 08, 2014 1932

Two Vehicle Collision with Injuries

in Top Stories by Charles W. Riley II, SurfKY News
July 06, 2014 1723

Lake Malone Park Enjoys Busy Fourth of…

in Top Stories by Paul McRee, SurfKY News
July 07, 2014 1434

Business Spotlight - Red Door Trading…

in Top Stories by Charles W. Riley II, SurfKY News

SurfKY News Group, Inc. Central Office & Printing Division
1125 Nebo Rd.  •  Madisonville, KY 42431  •  270.452.2249 (fax)
Main Number: 270.452.2727 (phone)  •  Printing Division Direct Line: 270.821.8600 (phone)

SurfKY Owensboro News Bureau
920 Frederica St. / Suite 210  •  Owensboro, KY 42301  •  270.683-8060 (phone)


Contact a member of our staff: www.surfky.com/contact
Copyright © 2014 SurfKY News Group, Inc.  •  Terms of Use  •  Site Map

social 06social 21social 22social 04social 03