We understand that insurance may not be the most exciting aspect of your life; however, we have some insurance premium savings tips that may help remove the BLUE MONDAY blues.

1) Adjust deductibles without making a big sacrifice on coverage. An increase of comp and collision on auto insurance can save a few dollars in premium.

2) Consider evaluating the need for full coverage on vehicles older than 10 years.

3) Do the math to consider taking the risk of a higher homeowners deductible.  In other words, moving your deductible from $500 to $1,000 increases your risk by $500 per claim. The savings can range between 5% and 10% of the homeowner premium.  Calculate the savings and divide into the $500 to calculate how many years it will take to break even if you have a claim.  If only a few years and you’ve got a good claim history…might be worth the savings.

4) In addition, consider this…some people don’t want to record a claim for small mishaps for fear of their premiums going up.  If you don’t think you’d put a claim into your insurer for claims less than $1000…then you might as well take the savings of increasing your deductible.

There are more ways to save on your insurance. Call your FAPCO agent to learn more!