How to Cut Costs on Insurance

How to Cut Costs on Insurance Leave a comment

I am an economist and the founder and owner of Finance Blog Zone

cut costs on insurance

Figuring out how to cut costs on insurance can be a little intimidating. However, not all of us can afford hefty insurance bills every month. When it comes to finding a bit of wiggle room in your monthly budget, you can actually save more than a little money on your insurance costs.

No, this doesn’t mean cancelling your insurance all together. Just like learning how to handle your finances, how to invest in stocks, or how to find bargain deals at stores, it just takes a few helpful hints to get started. Check out these tips on how to cut costs on insurance to save money and still have incredible coverage.

Bundles are Best

You hear a lot of advertisements about saving on insurance with bundles. This means that you can have one insurance plan for a large amount of things. When those cheesy commercials tell you you can save money, they are not lying.

On average, you can save hundreds of dollars a month. That adds up over the full year. Most big name insurance providers will offer discounts if you put all of your insured items under one policy. And the average insurance bundle cost is actually more affordable than you would think.


Here are a few things you can bundle together under one policy to save time and money:

  • Home
  • Cars
  • Boats
  • Renter’s Coverage
  • Life
  • Off-Roading Vehicles
  • Motorcycles

There are of course other things you can insure in a bundle, but these are the primary options for most insurance companies. Look into bundling to cut costs on insurance in your monthly budget.

Discounts Galore

You may not know it, but you probably qualify for a discount or two from your insurance company. Are you a veteran? Do you qualify as a senior? Are you a single income family? All of these questions could result in you saving a lot over the year.

One of the best ways to see if you can get discounted rates is to call your insurance provider or a competitor to see what discounts you and your family can get. Simply asking to see if you can get a discount may lead to you saving a lot of money and really cut costs on insurance for the year.

Budget Options

Just like going to a store, or shopping online, buying name brand may not be the best option for you. One of the best ways to cut costs on insurance is to go with a budget option. There are budget auto insurance companies, homeowner’s policies, and so much more. Don’t be afraid of going “off brand” to a local insurance company, or a budget option.

Not only are budget options affordable, but they could actually provide some really great coverage for less. When you have to have “full-coverage” auto insurance, a budget company will provide the same “full-coverage” as a more well-known company. It really comes down to how much you can save, while still getting the same insurance coverage.

budget options

Loyalty Programs

Large insurance companies can afford to give long-term policy holders loyalty discounts. If you have been a customer with a company for a long period of time, be certain to check with them about loyalty programs or long-term policy holder discounts, or the same coverage for a better price.

You would be surprised what kind of money you can save just by being a loyal customer. Don’t be afraid to call and ask about loyalty programs with your provider. Then that saved money can go towards debts, savings, or fun things for you and your family.

Cut Costs on Insurance and Save Money Now

Following these tips on how to cut costs on insurance can not only save you money, but it could also mean you pay less for the same insurance coverage. So whether you go with a budget option, bundle up, or simply call about discounts, you can cut costs on your insurance today. Don’t wait, start saving right now.

I am an economist and the founder and owner of Finance Blog Zone

Leave a Reply

Your email address will not be published. Required fields are marked *