For starters, time is money so don’t waste yours. When you call or go online to get quotes from one carrier at a time you are getting the best rate offered from just that ONE company.
Solution? Call a broker that represents multiple companies and let them do the work for you. A broker doesn’t work for any one company, he works for you. A broker can tell you if it’s less expensive for you to bundle your home and auto together or put them with separate carriers.
A broker’s ability to shop different carriers also allows for a policy to be tailored to your exact needs, meaning you choose the coverages and price that you want.
Make sure you’re getting the most of the discounts available to you:
1) If there are multiple vehicles in a home consider insuring them together and getting a multi-car discount.
2) If you own a home or have a renter’s insurance policy some carriers offer a discount just for having a homeowner’s policy, even if it’s not packaged with the same carrier.
3) Consider increasing your deductibles. Changing your deductibles from $250 to $500 on your auto policy can offer significant savings. Increasing your home deductible to $1,000 can lower your premium and help avoid small homeowner’s claims that can haunt you down the road.
4) Ask about good student discounts for youthful drivers
5) Ask about Group Association discounts for AAA members, Costco members, airline pilots, etc.
6) Shop for quotes ahead of time as some carriers offer early quote discounts.
7) Consider carrying higher liability limits as many preferred carriers give additional discounts to customers that carry increased limits; they offer lower rates for carrying better coverage.
8) Some carriers now offer discounts if you are the original owner of your vehicle.
Most importantly, spend a few minutes talking to your broker. The more they know about you and understand your needs the easier it will be for them to find the best policy for you.