I have been playing with money and budget numbers for as long as I can remember. When I was younger I would beg to roll coins with those coin wrappers. I counted the money in my piggy bank over and over. I helped my mom write out checks to pay the household bills. It has always been like a game to me to see how far I can stretch a dollar and try and find the best deals. Here is today’s tip:
Check (and recheck) your insurance rates and premiums.
This tip is fresh in my mind because we did this just last week. My husband was looking over our annual car insurance rates, and compared them to last year’s numbers. Do you know what he noticed? He noticed that our discounts were higher, but our premium was much higher. All he did was ask our insurance broker about it and she rewrote the policy, with the same coverage and same company, and saved us $39. Not a lot of money, but a savings none the less.
Along with comparing insurance documents from year to year, I also recommend talking to your broker to see if changing insurance companies could save you a chunk of change. It is recommended that you shop for for a new rate every 1-2 years. I know this is a simple and widely known tip, but I feel like it is not used enough. I know many people who have had the same insurance policy for 15 years!
Do you follow the suggestion of shopping for a new insurance rate every 1-2 years? Share your thoughts below.