How to Lower Insurance Rates
Insurance rates are rising rapidly across the United States for several reasons that may not be related to your behavior, your coverages or your property value. For example, natural disasters like hurricanes, floods and wildfires can cause significant property damage and insurance claims. Insurance companies may increase premiums to compensate for the increased payouts when many claims are filed.
Inflation also impacts insurance premiums. As the cost of goods and services increases, insurance companies may charge higher premiums to keep up with the rising claims costs. Fortunately, there are a few proven ways to help lower your insurance rates.
Contact InsurePro, serving the Abingdon, Pennington Gap, Clintwood, Honaker, Weber City and Norton, Virginia, areas, to get multiple auto and home insurance quotes.
How to Lower Home Insurance Rates
Your home insurance rates may be based partly on your home’s value and location, your claims history and the coverage you choose. The following tips may help lower your premiums:
How to Lower Auto Insurance Rates
- Increase your deductible. Just like with car insurance, increasing your deductible can lower your homeowner’s insurance premium. However, be sure you can afford to pay the higher deductible if you need to file a claim.
- Improve your home's safety features. Installing safety features like smoke detectors, deadbolt locks and security systems can help lower your insurance premium. These features may help reduce the risk of damage or theft, making your home less risky to insure.
- Bundle your policies. If you have multiple insurance policies, bundling them with the same insurance company may trigger a discount on your premiums.
Your car insurance rates may be based in part on your driving history, your age, the value of your vehicle, the coverages and limits you choose, and your location. The following tips may help lower your auto insurance rates:
- Choose a car with safety features. Insurance companies may offer discounts for cars with safety features like anti-lock brakes, airbags and anti-theft devices. Consider purchasing a car with these features to potentially lower your premium.
- Drive safely and maintain a good driving record. Insurance companies reward safe drivers with lower premiums. Avoid accidents and traffic violations to maintain a good driving record. You can also consider taking a defensive driving course to improve your driving skills and potentially lower your premium.
- Increase your deductible. A deductible is an out-of-pocket amount before your insurance coverage kicks in. By increasing your deductible, you can lower your premium.
Insurance rates can vary widely between different companies. One of the most effective ways to lower insurance rates is to shop around for coverage. Make sure to compare coverage and deductibles as well, as a cheaper premium may mean less coverage.
Contact InsurePro today for help shopping for home and auto insurance coverage at a great rate.