After the holidays and really anytime during the year we are all looking to save money any way that we can. It’s easy to cut unnecessary expenses out of our monthly budget but where the hard part comes in is when we try to cut down the expenses that are absolutely necessary to live. Have you recently gone over your budget, where can you make cuts?
If you have a home or a car then you need to have home and auto insurance. When it comes to personal finance experts say that you should not have all of your eggs in the same basket; this advice refers to the type of investments you are purchasing, not the Investment Company or financial institution with whom you are purchasing the investments. The exact same rule applies to your home and auto insurance; you should definitely have all of your insurance products with the same insurance provider.
Stock up and save on your home insurance
It is preferable to have all of your insurance products with the same insurance provider because it can help you get a discount on both your home and auto insurance. There are several reasons why an insurance provider will give clients a discount including your profession, a good credit score, and the method of payment as well as your age. Most insurance companies also provide a discount for clients who have multiple products with them. Stock up and purchase all of your life, home, auto, travel and medical insurance with the same company and you could get a nice discount.
Your financial institution may not directly offer home insurance but they may have an affiliation with an insurance provider. You may also get a discount for having a banking relationship, even if you don’t have other insurance products with them.
The benefit of having all of your insurance products in one place
On top of the money saving benefits of having all of your insurance products with the same provider there is also the benefit of convenience. Having all of your insurance products in one place provides peace of mind when doing business, especially if you have an emergency or need to file a claim. It’s important to trust the insurance company that you are doing business with and having all of your insurance products in the same place is definitely a sign of loyalty.
Every year that you keep your home insurance with the same insurance provider they may lower your deductible. My insurance provider lowers my home insurance deductible by $50 every year that I renew my policy with them. This is a way to keep clients loyal and to encourage new business.
Another advantage of having all of your insurance products in one place is that you only have to call one telephone number for all of your insurance needs. You only need to keep one insurance policy in your wallet, one magnet on your refrigerator and one phone number in your contact list. We all have enough numbers to remember in our lives so trying to simplify your insurance needs is very easy. Photo by ilikephotos