Monday, April 1, 2013

How to Reduce Your Insurance Premiums and File Effective Claims

 
As with most other things, when it comes to insurance, you get what you pay for.
Don't pay to insure against minor losses, but don't ignore real perils just because coverage carries hefty premiums.
You can lower your premiums with a higher deductible. May agents recommend higher deductibles on property insurance and putting the money you save toward additional liability coverage.
How much can you afford for a deductible or uninsured risk? Look at your cash flow. If you can pay for a loss out of cash on hand, consider not insuring it.
You can also save money on insurance by obtaining it through a trade group or an association. Many associations offer insurance tailored to your industry needs -- everything from disability and health to liability and property coverage.
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