How to Get the Lowest Cost Insurance

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Getting the insurance coverage you want at an affordable price may be easier than you think. Shopping around, opting for a higher deductible, and asking for discounts will help trim your insurance prices. And being proactive about your health and your driving record will help ensure that your insurance costs stay low. With just a few smart moves, you’ll pay less for insurance.

Shop Around

This 6-step, decision-making model can help you choose the insurance plan that’s right for you.

  1. Define your goal. Be as specific as possible with insurance goals. For example, “We need an affordable health plan for a family of four” or “We need a life insurance policy that offers a lifetime of coverage with steady payments.”
  2. Establish your criteria. What are the features you absolutely must have in your insurance policy? And which features would you like it to have? Having a tough time deciding? This wants versus needs worksheet can help.
  3. Choose two to three good options. It’s elimination time. Remove any insurance options without your must-have features. Narrow down your list to just two or three different insurance plans.
  4. Identify the pros and cons. Make a chart so you can quickly compare the features and prices of each of your top two or three insurance choices.
  5. Decide what’s best. Choose the insurance plan that best matches your criteria.
  6. Evaluate the purchase. Did you stay within budget? Do you feel good about the insurance coverage that you choose?

Aim High

Choosing a policy with a higher deductible will lower the premium cost that you pay.

Find Out What’s Right for You

Research the types of insurance coverage available and appropriate for your stage of life.

Ask for a Discount

Find out what discounts are available from your auto insurer. Insure your home and your cars with the same company and pick up a multi-policy discount.

Be Proactive

Stay healthy, drive responsibly, get regular checkups and reassess insurance needs as your life changes.