News 576 Life Insurance Home Insurance Auto Insurance Money Savers

Home insurance, auto insurance and life insurance are all necessary expenses but do they need to be expensive? Here are a few ways to cut corners on your insurance products.

Auto insurance- Shop around and talk to several different agents to find out who has the lowest rates on the type of policy you want. You can also raise your deductibles on collision and comprehensive to lower your monthly payments. If your car is older, you may be able to drop those coverges completely. If you find a new policy that is a better fit for you and your budget, make sure it is in effect before you cancel you old policy.

Homeowners insurance-
Again, shop around and find out which agent can offer you the lowest rates. Make sure you have enough insurance to cover your house and all of its contents. You don't want to save money on a cheaper policy only to spend it out of pocket to replace you belongings or repair your structure.

Life insurance- You can save money here by purchasing a protection only policy such as term life insurance which offers no saving component. If you want to buy a cash value policy such as whole or universal life insurance, don't buy one for less than a 15 year period. Canceling early could add up in fees.


Read more: 66 Ways to Save Money: Insurance (Ohio News Network) You can save several hundred dollars a year by purchasing auto insurance from a licensed, low-price insurer. Call your state insurance department for a publication showing typical prices charged by different companies.