If you are like us you have insurance out the kazoo... I hate insurance companies and wish I could just drop it all (and threaten to do so on a regular basis) but because of mortgages and fear I keep it.
Yesterday I got a new policy in the mail (nothing unusual) for the Kubota (tractor) and happened to notice that the deduction was only $100.00. I never do that.(found out that is was done automatically) I always go for a higher deductible to save money on premiums (and because I figure we will never really need it or use it)So, I called my agent and we started talking. We went over all the policies I have with them (five). I upped the deductible on the tractor policy and saved 25% annually! and I also upped the deductible on the house which allowed me to up the coverage and keep the premium the same.
Today I went over all my State Farm policies (six of them), the only change I made was to drop the insurance on the four wheeler. It is a year and a half old and has probably dropped in value by half so I decided it wasn't worth having insured. That saved me $86.00 a year.
So, if you haven't done it in a while you might want to go over you coverage and see where you make adjustments.
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5 comments:
I very much hate insurance too. I hate state farm in particular because of how they treated so many Oklahomans after the F5 went thru Del City. They have also just 'dropped' the entires state of Florida.
Craig and I have decided to start doing an annual audit of everything we spend monthly money on. Phones, internet, oil changes and insurance, the whole shebang, and make sure we are taking care of our home like it's a business.
We just lowered our insurance coverage and deductible on the car we own and took advantage of a discount we didn't know we qualified for. They insurance company is even sending us a rebate check! Love that!
If we lived in an area where we could get decent cell phone service I would drop our land lines but we dont' so I can't because of business, but, like you I go over and over our expenses trying to find ways to cut costs.
I'm pissed at State Farm, too, because they no longer take Parent Taught Driver Ed as a discount.
I hate it, too! J insists on having it on EVERYTHING--and he's probably right, but dang it's expensive.
We did this at my prompting a few months ago.
Congrats on saving some moolah, A!
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