Finding the right insurance plan can be complicated. It seems like you never know if you are getting the best deal on your insurance. There are several tips and tricks that can save money on insurance in Colorado.
Every insurance provider offers slightly different discounts for their customers. Below are the most common and should work for most insurance companies.
Tell your Insurance Company about Home Updates
By protecting your home, you will be able to save on your insurance because you are decreasing the risk of something happening. Ask your agent all of the ways that you can save on your insurance if you make some changes. These home improvements might pay for themselves after some time.
1. Install an alarm system
2. Install an impact-resistant or new roof
3. Update your utilities, like your hot water heater and furnace
Use One Insurance Company for Everything
If you have auto and home insurance with different companies change this immediately, bundling all of your insurance needs auto, home, property, life, boat, trailer, and others with one insurance provider could save you over 10% on your monthly payment. Using one company will save you a lot today, but also in the long run, insurance companies offer discounts for being with them for so many years. So make a decision today about who to go with and stay with them.
Keep your Home and Car Smart
Adding the latest security systems to your home and door locks to prevent robberies can decrease your home insurance rate. Some insurance providers also offer discounts if you are willing to put a tracking device in your vehicle, they will see how safe of a driver you are based on how much you drive, how fast, etc. If you buy some smart home gadgets, ask your insurance provider if it could be saving you money.
Increase your Deductibles
A simple way to save on your monthly premium is by increasing the deductible on your insurance. This works on all insurance policies. This means if an accident does occur you will have to pay a higher fixed amount but your monthly payment will decrease. For an example, if your current deductible is $500 and your increase your deductible to $1000 it will decrease your monthly rate. This allows you to be more flexible with your insurance coverage to pay for the exact coverage you would like to have.
Other Easy Ways to Save Money on Insurance
1) Take a driving course
2) Have a good credit score
3) Student drivers – have good grades
4) Have a clean driving record
The Best and Easiest Way to Save Money on your Insurance
Contact your insurance provider annually to see if there are any new ways that you could be saving that you aren’t already.