It”s impossible to argue that the cost of living is a hard thing to manage. It continues to rise, while most people are static in their jobs, and soon their income isn”t able to cover all of their expenses. For many people, this is just a reality of life, and it leaves them looking for anyway they can cut down on their expenses. Insurance is often one of the places people look to.


In order to save on any type of insurance, health insurance, auto, home, etc., it”s important to understand the factors that determine someone”s individual rates. No two people are the same, and their insurance isn”t the same either. Some people need coverage that others don”t, and insurance companies see some clients as bigger risks than others. Knowing that factors insurance companies look at will help individuals get the best rates possible for themselves.


Knowing the Factors


1. Age: Depending on the type of insurance, age can either hurt or help. With car insurance, young drivers are less experienced than older drivers and therefore have to pay more as they are a greater liability.
2. Gender: Whether we like it or not, men are treated differently than women in the world of insurance. Auto insurance companies see women drivers as lower risks than male drivers.
3. Lifestyle: Where someone lives, their marital status, how many kids they have, where they work, and their education level are just some of the lifestyle choices that insurance companies look at.
4. History: Family history as well as personal history in that area of insurance helps providers determine how much of a risk a customer is and how likely they are to pay their bills on time. Drivers with infractions on their record will naturally have to pay more than drivers with clean driving records.


Clearly there are some factors, like age and gender, that are out of our control, and there are some factors, like having a good driving record, that are in our control. Try your best to focus on the mitigating factors which lower rates as most insurance companies offer discounts to those with clean driving records or young drivers taking every effort to be responsible in the classroom.


How to Save on Insurance


First of all, don”t cut too many corners. Often, people will stop paying for insurance because they think it”s an easy way to save money, but that”s never the case in the end. Should someone ever need insurance, they”re going to wish they have at least basic coverage, whether that”s for their car, their home, or their own body. Furthermore, a lapse in coverage may negatively impact your future rates.


Another way to save on your insurance is a simple trick that many people never try: ask for discounts. Take the time to discuss your coverage with your insurance agent every six months. Additionally, playing hardball by presenting rates from other companies may also inspire your agent to offer additional discounts designed to keep people with the company.

Most Dangerous Countries To Drive

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Most Dangerous Countries To Drive.

Where”s the world”s fastest road? Which country has the highest rate of road deaths? Which US city has the worst drivers? These are all questions that we set out to answer in our first infographic of 2013.

Since the dawn of the motor car this great invention has come with arguably a fair amount of danger. And here at InsuranceCheap.com we don”t just have a passion for helping our customers find the cheapest auto insurance around, we also care tremendously about road safety which is why this infographic also contains a number of quick and easy tips so you and your family can stay safe out there…

If you like this infographic perhaps you might consider embedding it on your own site using the simple, copy and paste code below the graphic.

 


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When your income barely meets expenses, allocating a portion of your hard-earned dollars to life insurance may seem unimportant. Yet, if you have loved ones who are dependent on the money you earn, life insurance may be the only way for you to continue to provide for them should you die. What insurance is the best value for your dollar depends on your circumstances.

Term life insurance provides coverage for a pre-set number of years. If you are in good health, you can buy coverage at very reasonable rates. This insurance pays nothing unless you die. If you live past the specified term, the money you spent on premiums and the insurance coverage both are gone.

If you decide to buy term life insurance, either buy coverage with a term that is long enough to keep coverage in force until your loved ones no longer need the income you provide or look for a policy that is guaranteed renewable. That way, you will not have to pass a medical exam should your health deteriorate. Renewal rates go up if exams show you are in poor health.

Whole life insurance, a type of cash value insurance, continues in effect from the time you obtain coverage until your death, as long as premium payments are kept current. Premiums per $1,000 of whole life insurance usually start out quite a bit higher than what you would pay per $1,000 of term life insurance. With most whole life insurance policies, coverage stays the same and premiums do not increase as you get older or your health declines.

You can cash in a whole life policy at any time, which terminates the policy. The cash value may be quite a bit less than the total amount of premiums you paid. You can borrow against the cash value while keeping your policy in effect. You pay interest on the amount borrowed until the loan is paid in full. If you do not fully repay the loan before you die, any remaining debt is deducted from the policy’s face value before payment is made to your beneficiary. If you find yourself unable to continue paying premiums, some whole life policies allow you to convert your policy to a paid-up whole life policy with a reduced amount of coverage.

Ways to Save on Renters Insurance

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Just because you’re renting an apartment, townhouse or home doesn’t mean that you don’t have nice things to protect. However, many people don’t think to buy renters insurance until it’s too late. Here are a few top tips for finding cheap renters insurance and for saving money on your insurance premium.

As with most other forms of insurance, the only way you’ll find the best deal on renters insurance is if you shop around. Do your homework and compare coverage plans and premium costs between companies.

You can always lower your insurance premium rates, including the monthly premium for renters insurance, by increasing your deductible. According to insuranceagents.com, having a deductible of $500 can reduce your monthly premium rate by around 12 percent, and raising your deductible to $1,000 can reduce your monthly premium rate by about 24 percent. However, you’ll always want to be sure that you can afford to pay your deductible cost from out of your own pocket in case of a theft or emergency.

Asking if you qualify for renters insurance discounts can end up saving you a lot of money as well. People who have recently retired or have recently married are often eligible for discounts, and checking to see if your renters insurance provider offers bundle packages that include auto insurance or life insurance can cut costs as well.

Outfitting your home with extra security measures can pay long-term dividends as far as your insurance premium is concerned. Smoke detectors, burglar alarms, sprinkler systems, fire extinguishers and other safety devices can lower your monthly premium. Be sure to check with your insurance provider to make sure that safety upgrades will actually lower your premium, though.

It is always better to pay your premium in a single lump sum rather to spread it out over a period of time. You will usually rack up additional fees and charges by only making minimum payments, so take care of the bulk of the payment, if not the entire payment, as soon as you can. Having a good credit score can also help you secure lower insurance premiums.

A completely obvious way to save on renters insurance is to move to a safer neighborhood or city. Insuring tenants and residents of neighborhoods and cities with lower crime rates is a less risky proposition than insuring someone who lives in a high-risk area, and the insurance premium will reflect that.

No one wants to be saddled with expensive car insurance payments, especially when being insured is such a necessity. Thankfully, there are a few ways that drivers can save a bit of money on their car insurance plans.

One of the most basic ways that people can save money on car insurance is to do a bit of homework and shop around for the best deal. There are several websites that can help when searching for low insurance rates, and calling the insurance providers directly to receive a customized quote can ensure that you know exactly how much you”ll be paying for your policy.

Many people also seem hesitant to change their insurance providers, even when another provider can offer a significantly cheaper deal on a policy that is exactly the same. Unless an insurance provider awards loyalty discounts to its drivers and it would be cheaper to stick with that provider over the long run, there”s no reason that a driver should stay with a particular company and pay more for his or her insurance.

It also helps to have a good understanding of how much your car is worth. In general, if you have a high-mileage car or a car that is several years old, you might be paying more in your yearly premiums than you would get back if your car gets completely destroyed or stolen.

One of the easiest ways to reduce the amount of money you”re paying for your car insurance is to increase your deductible. Although this will make you responsible for covering a larger amount of the cost for minor accidents, your premium payments can be reduced significantly. Also, try to pay your premiums with a lump sum. Stretching payments out over a period of months usually results in additional fees.

If you get your car insurance from a major provider that also offers home insurance and life insurance, ask your provider if you can save money by bundling your insurance.

It might be a small thing, but make sure that your paperwork is always up to date. Depending on the insurance provider, drivers are often entitled to small discounts if he or she gets married, moves away from an inner city and outfits his or her car with anti-theft devices, among other factors. Make sure that your paperwork is an accurate reflection of your lifestyle and your habits.

Even though it might be tempting, you want to make sure that your policy never lapses. Uninsured motorists, even if they previously had insurance, pay higher premiums than continually insured motorists do.

It is crucial for every child to have health insurance. Many children suffer broken bones and other accidental injuries. Additionally, school exposes them to a number of contagious illnesses. Some parents find it difficult to afford health insurance for children. Fortunately, it is possible to reduce the monthly premiums in several ways.

In most situations, the least expensive way to obtain health insurance for children is to purchase it through your employer. If both parents have jobs that provide family health plans, be sure to compare the cost of insuring a child on either plan. When one parent changes to a new job or an employer switches to a different insurance company, don”t forget to compare them again.

Another way to save money on a child’s health insurance is to select a policy with a higher deductible. This will significantly reduce the monthly premium. However, you will have to pay more if your child needs treatment. This may be a good option if your child is generally healthy and you have the ability to save some extra money.

State governments offer programs that subsidize the cost of health insurance for children. Discounted or free coverage is available for qualifying children in every state, according to the U.S. Department of Health and Human Services. These subsidies are provided by Medicaid and the Children”s Health Insurance Program.

Eligibility for state assistance is based upon household income and the number of children in a family. This is often the best choice for unemployed people and parents with jobs that don”t provide family health coverage. Parents can obtain more information by calling the Department of Health and Human Services at 877-543-7669.

Another option is to look for an insurer that offers special discounted health plans for children. For example, Kaiser Permanente only charges $8 to $15 per month to insure children in households with low to moderate income. The availability of such programs will vary depending upon where you live.

Finally, you can also compare the rates offered by other types of organizations. Some state and local nonprofits supply discounted health insurance policies for children. If you hold membership in a union, find out if it provides affordable family coverage. A number of associations, clubs and other groups offer discounted health insurance as well.

Most people don”t think about buying life insurance until they are older, but the truth is, buying life insurance while you”re young can save you a lot of money down the road. Your age, and not necessarily your health, is the most important factor in the amount of money you pay for a life insurance premium.

Speaking of health, though, you”ll want to be sure to live a healthy lifestyle if you want to save on your life insurance rates. Quitting smoking and losing weight can go a long way towards lowering high life insurance premiums. If you established a life insurance policy and have become much healthier in the meantime, ask your insurance provider to reevaluate your health. If you have a medical condition like diabetes or high blood pressure, you can lower the cost of your premium by showing a history of better health.

You’ll also want to shop for life insurance online. Many life insurance provider websites will give you a general idea of what you will be quoted for a policy. Use this information to compare coverage and premiums between insurance companies. Because there is no “standard coverage,” insurance policy rates can vary widely from company to company, even for the exact same policy.

Only buy as much life insurance as you need. Determine how much money your family will need in the event of your death, which might include living and education expenses, and buy an according policy. While a large policy and payout might theoretically sound like a good idea, it”s worthless if you can”t afford your premium.

An easy way to save a bit on your life insurance is to pay the bill annually and as a lump sum. Many life insurance companies will charge you additional fees for monthly payments, so there”s no point in putting off paying the bill if you can afford it.

Another way you might be able to save a bit of money is to inquire about “no-load” and “low-load” life insurance policies. These policies have fewer expenses, like insurance agent cuts and other fees, built into the cost of the premium, which means you will be able to build upon your premium payments more quickly. However, very few insurance companies offer these policies, and they aren”t available in all states. Still, if you are lucky enough to be able to find one of these policies, they are a good way to get life insurance at a low cost.

Sometimes it takes a bit of hard work to save money. Finding a cheap health insurance plan is no exception. However, there are a few tips and tricks that can help to reduce the amount you pay every year for health coverage.

An easy way to reduce your health insurance premium is to increase your deductible. Although you will ultimately be responsible for more out-of-pocket costs if you should happen to require small procedures or need to visit the emergency room, if you are generally healthy, increasing your deductible can shave large percentages of money off of your premium payments.

You also need to make sure that your health insurance plan includes doctors that you normally visit. The reason you want to do this is because health insurance providers will cover larger amounts of your healthcare costs if the doctor you visited is a member of the provider’s network. Health insurance will usually cover a certain amount of healthcare costs if you visit doctors who are outside of the preferred healthcare provider network of the particular insurance company, but your savings are significantly increased if you visit a network doctor.

If you don’t already, you might want to consider landing a job that supplies health insurance. It’s easier said than done, of course, but employee healthcare coverage plans are often better than what you would be able to get as an individual, especially as you grow older.

You shouldn’t follow any of these tips, however, unless you are willing to compare health insurance plans and premium costs from different providers. Call providers for customized quotes or do a bit of shopping online to determine which provider will allow you to pay the lowest premium. People are often surprised to learn that the cost of premiums for certain policies can be up to 50 percent more or less expensive, depending on the provider. Also, if you are already insured, don’t be afraid to switch providers if another insurance provider can offer you the same policy for less money. It doesn’t make any sense to pay more money for a product or service that is cheaper somewhere else.

Finally, don’t be fooled by ultra-low premiums. While plans with the lowest premiums might seem like the most cost-effective option, these plans might be extremely limited and might not offer the services that you need most. Paying a little extra each month to have a larger network or prescription, dental and eye benefits will likely save you money in the long run.

6 Ways to Get Cheap Insurance

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Life can be expensive at times. After paying your rent or mortgage and buying food, you might not have much cash left. It can be tempting to cut costs by canceling insurance premiums, but this might actually cost you more in the long run. Imagine how much debt you will be in if you total your car or need extensive medical treatments. You don”t have to live without insurance. There are many ways to save money on your monthly premiums and get cheap insurance.

WATCH YOUR WEIGHT
Obesity has been linked to several different health problems, including diabetes and high blood pressure. These chronic conditions often require lifelong treatment plans and can be rather costly for insurance companies. If you are overweight, consider starting a diet or exercise plan a few months before you plan on applying for health or life insurance.

KEEP YOUR CREDIT SCORE HIGH
A high credit score isn”t just important for credit card and loan approvals. Many car insurance companies run a credit check on new applicants. Expect to pay a bit more for your monthly premium if your credit is bad.

COMBINE POLICIES
Bundling your policies makes life a lot easier, but did you know that it can also save you money? Find out which insurance companies offer combined plans. You might be able to get your health, life and auto insurance from the same company at a discounted rate.

AVOID COVERAGE GAPS
Gaps in coverage are very bad when it comes to insurance. Some health insurance companies refuse to insure applicants who have been uninsured for an extended period of time. This time frame is typically anywhere from 60 days to six months. Many car insurance companies are the same way. Be prepared to explain any coverage gaps when you apply for new insurance.

COMPARE PRICES ONLINE
An insurance company can brag that it offers the lowest prices, but how do you know if that statement is true? Make a list of all the companies that interest you and then compare them online. Some websites offer price and benefit comparison tools that make it easy to quickly and accurately compare different companies.

ASK FOR DISCOUNTS
Depending on your situation, insurance might be something you want rather than need. Some insurance companies know this and don”t want to miss a chance to make a profit. Ask your insurance agent if any discounts or specials are available. If you received a cheaper price quote from another company, mention this to the rep or agent. You might be surprised by how many of them offer to match the lower price.

The best thing you can do in order to ensure that you”re getting a good deal on home insurance is to shop around a bit. Even though it make take a significant amount of time and be a bit taxing, comparing coverage plans, premium costs and customer feedback is essential to saving money when you”re shopping for home insurance.

As with most other insurances, raising your deductible will lower the amount you pay for your monthly premium. According to smartmoney.com, increasing your home insurance deductible from $250 to $500 could save up to 15 percent on your monthly premium. Increasing your deductible to $1,000 can save you up to 25 percent on your monthly premium.

It might sound a bit silly, but never forget that home insurance is specifically for your home. It”s not “lot insurance” or “land insurance.” If you only consider the value of your home when buying home insurance, and not the value of your home with the value of the land it”s on, you should be able to save a large amount on your monthly premium.

Ask your insurance provider if it is possible to bundle insurance services together. Several insurance providers will offer discounts if you obtain home, auto and life insurance policies with them, and you will likely be able to save a percentage of your monthly premium by bundling. However, you will always want to make sure that this option is cheaper than buying individual coverages and insurance plans from separate insurance companies.

You should also check to see if your home insurance provider offers a loyalty discount. Sticking with a particular insurance company might be able to save you ten percent or more off of your monthly premium rate. From time to time, you”ll want to check and see if other insurance companies offer better loyalty discounts or if it would be cheaper to switch to a different company entirely.

Upgrading your home with security and anti-disaster measures will also help to reduce your home insurance costs. Depending on where you live, you can receive insurance discounts for installing earthquake-proofing, storm shutters, burglar alarms, sprinkler systems and even new plumbing and electrical systems.

Like with all other insurances, keeping a good credit record is also an easy way to ensure that you”ll be paying a lower home insurance premium.

Finally, be sure to keep your paperwork up to date. You might be eligible for a discount if you”ve recently been married or have retired, and if some of your household items have declined in value, you can reduce your floater cost and save money.