Choosing an Insurance Provider

When it comes to choosing a provider, it is important to have a good overview of how coverage works, whether you are looking to insure your car, home, health, or anything else! Be sure to follow these tips to get the best coverage you can for your budget.

Auto Insurance

Before settling on a provider, recognize that certain companies will provide discounts depending on various factors. Many providers offer a multi-car/multi-driver discount. Couples that are married or recognized by their state as being in a civil union may benefit from such offers. Do you own a car with specific safety or anti-theft features? If so, you are likely to pay a much lower rate for coverage. In addition, it pays to be a careful driver. If you qualify, many companies will insure accident and/or ticket-free drivers at much lower rates. Other features such as owning a home or having a good credit score can dramatically decrease the cost of your auto insurance.

Life Insurance

You may have heard that obtaining life insurance requires a medical exam. This isn't always the case, but if you are a healthy individual and can afford additional processing time, purchasing a plan with the submission of a medical exam can give you the best value. Although you may think you are too young to consider buying life insurance, think again. The younger you are when you purchase life insurance, the lower your rates will be. Other factors that reduce the cost of life insurance include being female, having a healthy weight and low BMI index, and being a non-smoker.

Health Insurance

It's important to find an affordable policy that still offers adequate coverage. Generally, plans are set up with a high deductible and a lower monthly payment or a low deductible with a higher monthly payment. It is important to consider how often you and your family make visits to the doctor's office or appointments with specialists. Not all providers offer the same prescription coverage. Be aware of certain medications or doctors that need to be covered, as some policies will offer more coverage for certain medication or doctors over others. Even the slightest coverage will help lower the financial burden one may face when unpredictable injuries or illnesses strike.

Home Insurance

You should be aware that there are various features of your home that can dramatically affect the rate you will be expected to pay no matter which company you ultimately choose as your provider. The age, address, types of roofing and siding, and size of your home are significant factors. The construction also makes a big difference; brick homes are often less costly to insure than framed homes. Do you live near a fire hydrant or firehouse? This can actually decrease your overall rate. Other features that affect cost include fences and pools. Generally, the more prepared your home is for disaster, whether it be the installation of storm shutters or adding a home security system, the lower your rates will be. Additionally, the amount of liability coverage you decide to buy will affect the overall cost.

General Insurance

Many of the following factors apply to all types of insurance. If you plan on buying multiple types of insurance from the same provider, such as both auto and home insurance, you may qualify for a reduced rate. Are you 55 or older? If so, you can benefit from the senior discounts that many companies offer. Being consistent is a big payoff. Don't let your coverage lapse, as you will face high premiums from most providers. In addition, those that stick with the same provider for an extended period of time may notice their rates drop. If you have a good credit score, you will most likely pay less for the same coverage as those with unsatisfactory scores. Believe it or not, saving paper can save you money. Some insurance companies charge a lower rate to those that opt to make their payments electronically.