5 Ways to Lower Your NV Insurance Premiums

Even though insurance is not a tangible commodity, the cost of paying insurance claims is tied directly to other ever increasing prices.  For example, as the cost of new cars, collision repair parts and body shop labor rates increases, so must the cost of auto insurance physical damage.   As the average settlement in liability lawsuits increases, so will the cost for liability insurance.   Workers compensation rates are directly tied to medical costs, which increase steadily every year. 

There are, however, common senses ways you can help lower your premiums without slashing important coverage.  

1. Package your auto and home insurance with the same insurance company.   The discount for combining policies can be as much as 20% so it generally makes sense to keep these policies together.  
2. Consider automatic payments.   Most insurance companies provide a dramatically reduce installment fee - or no fee at all - for using electronic payments.    Installment fees on traditional paper installment bills can be as much as $8 per month, so the potential savings could be around $100 per policy each year!
3. Review your deductibles.   When was the last time you made an insurance claim?  If the answer is many years ago, you've been potentially forfeiting savings by carrying a lower deductible.   This is especially important on homeowners insurance where the claim frequency is very low.   The difference between a $500 and $1000 deductible can be up to 20% of the total premium, potentially paying for itself in just a few years.
4. Get every discount availble to you.  All those questions we ask you when running a quote is not us being nosy - we are looking for possible discounts related to your occupation, education level, age, vehicle use, lifestyle etc.  Don't be afraid to ask your agent what discounts are available and might apply to you.
5. Review your coverage annually.   You might be paying for coverage you really don't need.  For example, most new vehicles include towing as part of the warranty.  Why pay for the same thing on your auto insurance.   If you have several vehicles in the household, maybe you can go without rental car reimbursement.   Lastly, consider the coverage you carry on older vehicles.   It might be time to consider dropping comprehensive and collision coverage.   If the cost of the insurance and the deductible is approaching 25% of the vehicle's total value, you might decide to self-insure the vehicle and put that money to better use elswhere. 

Lastly, remember that as Independent Agent we have access to dozens of different insurance providers.   Our goal is to always find you the best possible price for the coverage you need.   Our loyalty is to you, not any particular insurance company.  We are more that willing to shop your policy every renewal, review your coverage and discounts and make sure you have the best deal available.   Call us today and let us show you how "We work for you!"