Five Ways to Lower Your Insurance Premium
The weather, the job market, when your child loses her first tooth—so many factors in life are completely beyond your control. How much you pay for your insurance premium doesn’t have to be one of them.
Insurance providers calculate premiums based on risk management. We are experts at understanding the risk of insuring you and your lifestyle.
Try looking at your life through our lens. Trust us, we are the experts.
Here are five ways you can think like an insurance provider and lower your insurance premium, pronto:
Buy it now.
That’s right, the number one way to keep your insurance premium low is to buy the plan when you’re young. So consider your insurance options as soon as you can to insure the lowest premium rate possible.
Break a sweat and eat right.
Sad but true. Exercise and a healthy diet are lifestyle choices that can have a positive impact on your health and your premium.
Go tobacco-free.
As if you need another motivation to lay down the cigarettes, cigars, or chewing tobacco, here’s another: insurance companies want to know of your tobacco consumption, because its use is one of the biggest lifestyle risk factors. Quit your tobacco use ASAP, and do it with support from a program and family and friends to increase your chances of success.
Slow down, speed racer!
Insurance providers assess your driving record as yet another way to determine your risk profile. So relax, breathe, and observe the rules of the road. Your bank account—and other drivers—will thank you.
Choose your hobbies wisely.
Do you spend your spare time playing the violin or jumping from planes?
Be aware that insurance companies also consider your hobbies when determining your risk profile. Enjoy what you do, but think like an insurance provider when you consider the risks of your pastimes. It’s true that you might get a sore back from holding up that fiddle, but it’s more likely that you will meet an unexpected end by skydiving from 12,000 feet.
Insurance is one of the few things you buy, hoping to never have to use. By understanding how insurance companies think, you can lower your insurance premium—and lead a safer and healthier life in the process.