We were honored to write a blog for Moo-la Saving Mom last month on budgeting and insurance. Here’s a copy of the blog and tips on being a savvy insurance consumer.
I grew up being taught the adage “a penny saved is a penny earned”. I am an avid couponer and definitely love a good deal. I am also a firm believer, though, that you pay for what you get. After all, when I go to Wal-Mart, I don’t expect Saks quality and likewise, when I go to Saks, I don’t expect Wal-Mart prices. The world of insurance is no different, but there are ways to save your green while protecting your gold.
First of all, get to know your agent. Your agent can help you the most when she knows who you are, what you care about, and what you need to protect. It’s all about relationship! Your agent can help you decide if you need certain coverage or if you can forgo it. No two people are the same – everyone has different needs based on stage of life.
Secondly, think about what is important to you. If you don’t care about replacing your jalopy if it’s in an accident, your agent can advise you on what you do (or don’t!) need to carry. Of course, the less coverage you carry, the less your premium is monthly.
Lastly, think about your budget. Maybe you can’t afford to pay a full year in advance, but you can afford the monthly payment. Ask what payment options and discounts are available.
Bottom line – for me, it’s a value proposition. Call your agent, ask for an insurance review, and together, figure out a way to protect yourself, your family, and your lifestyle while staying above the red.Ringemm1@nationwide.com