It pays to be a savvy consumer when evaluating your insurance policies.  By following a few simple guidelines you might be able to fatten your wallet while taking care of yourself and your family in the best way possible.

WMA’s Insurance Cost Cutting Tips:

Buy Insurance While Healthy: You can reduce your overall costs by purchasing life, disability, or long term care policies while you are young and healthy.  By doing this you can save thousands over the lifetime of the policy. Even if you think you are too old or have a health condition that might prevent you from obtaining coverage, it is worth at least checking out.  Each week, month, year that you wait could be costing you money.

Dig for Discounts: Check to see if you can leverage any association memberships for lower cost policies including professional organizations, AARP, school alumni or military associations. Also, hit the web t research the lowest costs for prescriptions, eye ware and exams.  Whether you have current coverage or not you can still get the most for your money by shopping around for the best prices on products and services.

Reevaluate on a Regular Basis: Take a look at what you currently have, and if your needs have changed in any way consult an independent insurance consultant who can shop all the carriers and find a plan that works best for you.  Have you stopped smoking or lowered your cholesterol? Have you recently been married, divorced, or brought a new baby home? It might be time to revisit your health or life insurance!

Raise Deductibles: Take a look at your current health plan or car insurance policy and see if you can raise the deductible and have the same coverage you need for less in monthly premium.

Check Premium Payments: Many insurers will give you a discount on your premium if you commit to paying monthly by auto debit, quarterly or annually.  This could save you up to hundreds a year.  Also, make sure that you pay your premiums promptly to avoid paying costly penalties.  You could save additionally by grouping several policies under the same carrier and taking advantage of multi-coverage discounts.

By following just a few of these strategies you can save money in both the short and long term.

Want to learn more or would you like to request a quote?  Please contact our Insurance and Client Benefits Advisor, Erin Haubner at 925.462.6007 or visit our Insurance website at wmainsurance.net.

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