Tips to Remember while Buying or Renewing Insurance

• What isn’t covered: Ask your insurance representative what isn’t covered by your insurance policy.
• Pay your premiums: Non-payment of premiums, under certain circumstances, is reason to cancel your insurance. A cancelled insurance policy on your history makes you a more uncertain risk for another insurance company.
• Tell the truth: When talking to your insurance representative, don’t “forget” any details. If you neglect to disclose some important information about you or whatever you are insuring this could cause big problems down the line. 
• Consider how much risk you are willing to absorb: You know about deductibles, they are the reality of the insurance process. If you were to have a claim, how much could you comfortably pay for yourself; at what dollar value would you consider submitting a claim? If this amount is different than your current deductible, contact your insurance representative to make the adjustment. 
• Stay the course: Try not to switch insurers in the middle of the year. Wait until your contract is up before switching insurers; this way you’ll avoid any early cancellation penalties.
• There are deals: Ask about multiple vehicle discounts or a discount for insuring your home and car together with the insurer.

And before you do switch to another insurer …

• Ask about discounts: Ask your current insurer if they have discounts to reward your loyalty. It may end up being financially better to stay put.