Insurance premiums can be a major part of a person’s monthly expenses, but Canby, OR residents can decrease their premiums in a variety of ways. Oliver Insurance offers the five following tips as the most effective ways of decreasing your auto, home, and health insurance premiums.
Cleaning Out Your Garage
Carefully cleaning out your garage can offer you premium discounts for two types of insurance coverage: auto and home insurance. Parking your car in a garage will decrease your auto coverage while cleaning up dangerous items will decrease your home premiums.
Increase Your Deductible
While it might be frustrating to increase your deductible, doing so will lower your monthly premium costs. Yes, you’ll pay more when problems do occur, but saving $100-200 per month can save you as much as $1,200 per year on your insurance.
Improve Your Insured Item
Repairing your car or home will decrease your premiums by making it worth more money. For example, adding storm shutters and adding a new room will minimize fire and water damage threats. Adding a new motor to your car will make it run more smoothly, eliminating breakdown threats.
Tweak Co-Insurance Rate
With medical insurance, you’ll typically have a ratio of 80/20 or 90/10, meaning the insurance provider pays 80-90 percent of your coverage while you pay the rest. Increasing the amount you pay (such as 70/30) will decrease your premiums, but increase what you pay: this method is similar to increasing your deductible with other insurances.
Avoiding Double Insurance
People often get medical coverage with their auto insurance policy and their personal health insurance policy. This is unnecessary, particularly if you already have life and disability insurance. Coverage duplication is expensive, so eliminate the most costly of these expenses to decrease your premiums.
Oliver Insurance covers the Canby, OR and can help you not only find great insurance coverage, but teach you ways to save money. Let them help you get full coverage and live a happy and productive life.