It’s that time of year…. insurance time! You should check your insurance rates at least once per year to make sure that you are still getting the best rate possible. Car and Home/Rental insurance are two of the obvious ones – but don’t forget your health insurance!
If you are covered under an employer plan then your sign up period is probably within the next month. Many of the people I know just stick with the same old. Many of them also carry two plans (if both parents work).
Make it your goal this year to go over all your insurance needs and look at what is available to you. It may be cheaper for you to be covered under one persons plan. Some employers even give an allowance if you turn down the insurance. DO NOT turn down insurance if you don’t have any!!! But, if your employer gives an allowance and your significant other’s employer does not than factor that in when you are figuring whose insurance to go with.
Carrying two plans does not mean you are covered double – it actually means things will be covered more slowly because the two insurance companies will argue over who gets to foot the bill.
While you are at it check for cheap home insurance and also car insurance rates. Many of these plans will “bait” you and then raise the rates the following year. You can use a website, like progressive, to get many different quotes. If you belong to a savings club, like SAMS or Costco then you can also get rate quotes through them!
When you switch, put everything that you saved for the year towards your debt. If you do not have debt then put it in a savings account. This year we changed home insurance and saved $270. We changed car insurance, but only saved $4 (with the same company that we switched home insurance with). We will be looking at our health insurance shortly. That is $274 that we have that we would not have had if we didn’t re-look at our insurance policies.
Personally, I am going to put our newly found $274 into that sharebuilder account. I want to see how much it will be at the end of next September! Every little savings adds up!
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