Is time the best Insurance Discount?

It might be.  It might also be the most under used and least asked about.

If you are between the ages of 16 and 25 your lack of time on this planet is a reason why you spend more on insurance.  BUT what if you pay attention?  Maybe you start on your parents policy and make sure they have solid coverage so when it is time to switch you are in a better position.  Then, typically after three years of being licensed, it is time to shop.  Now just stay on top of things because you get a little older you can likely improve your rate, assuming a clean to fairly clean record.

What about the rest of us?

Ask yourself this, How much is your loyalty worth?  In my opinion your loyalty is priceless.  That being said, how many physical dollars is your loyalty to a company costing you?  Could be hundreds if not thousands of dollars.  How does this happen?  Well, many people get lulled into thinking that staying with a company for a long period of time is some how beneficial. **Please get this in writing and show it to me***

I appreciate your loss free discounts, deductible rewards, bonus checks and whatever else may be the hot marketing flavor of the day.  Key word in there is MARKETING.  These are ploys to get you to stay around so you are less aware of what you are spending.

FACT: YOU SHOULD BE REVIEWING YOUR INSURANCE EVERY 12-18 MONTHS

That remains unchanged.  So why would you trade your loyalty and time for a potentially higher insurance rate?  No idea.  Might I suggest an alternative;

Look at what your insurance costs, typically best to think of the policies that tend to go together; auto, motorcycle, home, boat, umbrella, RV, rental property.  Basically where you live, what you drive and the things that go along with that.  Now see what the whole package costs, this is important.  Once you know your bottom line lets see how that goes up against your budget or more specifically what you would like it to be.  Now you can take advantage of any leverage you may have because of the policies you have in place.

FACT: MULTI-POLICY DISCOUNTS CAN BE WONDERFUL……

BUT

FACT: THERE IS NOTHING WRONG WITH USING MULTIPLE COMPANIES TO MAKE A SOLID PLAN

Now, it is important to know, just because a company can do a lot of advertising doesn’t mean they are worth you giving them more than a year or two.  PLEASE do not allow marketing to influence your bottom line.  Instead establish your own baseline for what your package should cost than make the company earn your dollars by staying consistent over time.

LOYALTY IS EARNED NOT BOUGHT

Just some suggestions.

 

 

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