January 2013

Increasing Your Deductible; You Should Consider Doing It

I tend to consider myself a safe driver. I’ve had one small accident 15 years ago, never had a close call since (knock on wood), and have been able to avoid speeding tickets or other things that insurance companies hate. That being said, I still think my premium is high and I was wondering about ways to take it down. Option #1 – Shop Around This is certainly the best option and one that we should all be doing once in a while. It can be done through an insurance broker, by shopping on the internet or even just by asking your

Too Poor To Buy Insurance?

It’s a sad reality. As important as insurance is, many of us simply cannot afford to buy it. I would caution anyone to simply stop paying insurance bills when money starts to become short. If you absolutely need to cut out some coverage, there is a better way of getting it done. It involves asking yourself a few questions: -Can I simply resume my policy when times get better (not necessarily true for policies such as life insurance but might work for car insurance if you stop driving) -What would be the consequences if something did end up happening (what

Never, Ever Make This Mistake When Buying An Insurance Policy

I hear it over and over despite having written about this in the past. It’s a common mistake but one that can end up costing you a lot of money. What is it? Never Buy Insurance In The Spur Of The Moment Buying insurance can often become emotional and good brokers or sales guys will be able to “scare you” to some degree into thinking that you need such or such insurance. Often they are right, sometimes they’re not. That is not the biggest problem about it though. Pricing Is Difficult To Judge No matter how good or bad you

How Much Data Would You Be Willing To Release To Diminish Your Insurance Premiums?

In the past few years, it has became increasingly easy to gather, share and use data which is exactly what most insurance companies are now trying to do. Today it got me wondering, how much would you be able to share or put yourself through if it meant having a lower premium? -Would you have a car that requires you to do an alcohol test before starting it up? -Would you mind having your insurance company tracking you with a GPS if it meant lowering your car insurance (since they would know how little you use it?) -Would you mind

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