10 Ways to save money on your insurance

17 Oct 10 Ways to save money on your insurance

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These days, everyone is looking for ways to trim the fat off their budgets.  While auto insurance can be expensive, there are simple and easy ways we can help you save money on your policy.  Here are 10 ways to save money on your insurance.


1. Bundle Policies
Bundling all your insurance needs with one company into one policy not only saves you time and confusion, but money as well.  Most insurance companies give a sizable discount for buying more than one type of coverage.  Types of insurance to consider bundling together include life, auto, RV, motorcycle, boat, home or renter’s insurance.
2. Raise Your Deductible
Deductibles are the amount of money you’re willing to spend before the insurance company if an unfortunate event occurs.  By raising your deductible to a higher level, you can lower your premium.  While the savings can be tempting, make sure you have available cash on hand to cover the amount you’ll need to pay out before making changes.  Remember, the purpose of insurance is to avoid financial hardship in the event you need to make a claim.  Deductibles are chosen by individuals based on their specific needs.  We recommend talking to your insurance agent on which deductible is appropriate for you.
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3. Maintain A Great Driving Record
We all know tailgating, speeding, reckless driving and distracted driving are some of the top causes of accidents but having a great driving record means more than just avoiding collisions.  Speeding tickets result in added points to your driver’s license and those points in turn add dollars to your premium.   While you can’t control the other cars on the road, you can control what’s happening in yours.  Give yourself some space, slow down and avoid using your cell phone.  Defensive driving is key to maintaining a great driving record and The State of Michigan even offers a Defensive Driving Course for teens.
4. Maintain A Great Credit Score
While the law prohibits insurers from using credit information or an insurance score as any part of a decision to deny, cancel or non-renew a personal insurance policy, it does allow them to use it to determine how much your insurance is going to cost.  Maintaining a good insurance credit score lowers your “risk” to insurance companies and helps you receive the best rate possible.  If your insurance company has not run your credit checked your insurance score recently and you know it has improved, ask your agent to see if it can lower your premium.  Keep in mind though, that a lesser insurance credit score can raise your premium so be sure where it stands before you make a request.
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5. Use An Independent Agent 
Often times, people miss out on the best rate available to them simply because they don’t get quotes from different insurance carriers.  Shopping around for the best policy is one of the easiest ways to save money.  Utilizing an independent agent, like Access Insurance Agencies, can save you time as well.  Having one agent who contacts several different insurance companies means you know you’re getting the best deal possible.   Contact us for a quote on your home, auto, boat, RV or life insurance today at 616.530.2800 or 616.796.0400.
6. Look For Group Discounts
Some companies offer a discount for people who are members of a group.  These types of groups may include your work, bank, credit union, or wholesale club.  Ask your agent if there’s a list of discounted groups and check to see if you’re a member.
7. Drop Coverage You Don’t Need
It’s no secret, your vehicle loses value as time goes by.  If it no longer has a large monetary value and there is no loan, you may want to drop full coverage, switching instead to the minimum insurance required by law.  This type of policy would not pay to have damage repaired on your vehicle so you’ll want to consider this type of coverage only if it has very little value.  You can determine your vehicle’s value on sites such as Kelly Blue Book or Edmunds.com.
8. Not Making Minor Claims
With every claim you make, your insurance premium goes up.  Also, if you make too many claims in a short period of time, you run the risk of being dropped by your insurance company.  If you happen to dent your bumper and the cost to repair it is $1200, you might want to think twice before submitting a claim.  If your deductible is $1000, that means your insurance company will only be paying $200 towards fixing the damages and you’ll be paying more on your insurance bill.  Before submitting that claim, decide which will be the most expensive in the long run.
9. Teen Driver/Good Grade Discount
If you have teenage drivers, you know that adding them to your policy, added cost as well!  The good news is, similar to a credit score, good grades are looked on favorably by many insurance companies.  Find out if your carrier offers a discount for teens who get good grades.  Some offer savings for teens who earn A’s and B’s.
10. Pay Policy In Full
Paying your policy in full every year or six months saves you money.  Many providers offer a significant discount to customers who make a lump payment.  This saves the companies time and resources billing you every month.  In turn, you save money.  Plus, one payment means only one due date, helping you to avoid late fees and possibly losing coverage.  Some companies even offer another small discount to those who are billed electronically.

Let Access Insurance Agencies take the guesswork out of your coverage, whether it be auto, home, life or business insurance. We value strong relationships with both our carriers and with our clients. Our 3 convenient locations are in Grand Rapids, Kentwood and Holland. Give us a call and find out why we say, “Handling your insurance is our privilege!”


Access Agency 897 52nd St SE Kentwood, MI 49508 Phone (616)530-2800

Grand Rapids

Ringnalda Agency 4800 Broadmoor SE Kentwood, MI 49512. Phone (616)698-9390


Access Agency – Lakeshore 11595 E Lakewood BLVD Suite 30 Holland, MI 49424. Phone (616)796-0400

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