Does it feel like the amount of money you pay every year for insurance just seems out of control?  Does it feel like every year the cost of your insurance seems to go up instead of down?

Is there any way to get ahead of the rising cost of insurance in the battered economy that we’re in right now?  It sure doesn’t feel like it sometimes.   How do other people lower their insurance premiums during a tough economy?   They start by focusing on what they have control over and so can you.

Focus On What You Control

You Control Your Financial Affairs

  • You have control over how you manage your financial affairs.
  • If you manage your finances properly, you can offset the rise in insurance premiums and maybe even lower your insurance premiums.
  • Managing your financial affairs includes your credit score.
  • Monitor your credit score, know your credit score.
  • Learn how to improve credit score.  One of the best ways to improve credit score is to know your credit score, intimately!
  • Do you know your credit score?
  • Order your free credit report once a year.  You can order a free credit report every year from each of the 3 national credit reporting agencies.
  • A good credit score is above 750.
  • Insurance PremiumsIf your credit score is below 750, you need some credit repair help to improve credit score.
  • With a credit score below 750, you will pay higher insurance premiums.   Raise that credit score above 750 to help lower your insurance premiums.
  • If you need help with your credit problems, find some credit repair services, get help.
  • The purpose of credit repair services is to help you improve credit scores.
  • A poor credit score is not impossible to repair… just don’t delay in getting some credit repair help.

You Control Your Claim Activity

  • Driving safer will lower your auto insurance premiums.
  • Your claim activity affects your auto and home insurance premiums.
  • Keep your claims to a minimum.

You Control Your Insurance Coverages

  • Increasing your deductibles lowers your premiums.
  • By carrying higher insurance limits you can lower your premiums.
  • If you have an older car, there may be some coverages that you can eliminate.
  • Ask your insurance agent about all of the discounts that you may be eligible for.

Get Discounts

  • Insure your auto and home with the same insurance company to get a discount.
  • Insure all cars with the same insurance carrier.
  • Install alarms and security systems for a discount on your homeowners insurance.
  • Stop smoking.
  • Some insurance companies will give a discount to non-smokers since unattended cigarettes increase house fires.

We are in a “hard market” right now, which means that insurance companies are taking a tough position on writing new policies and renewing current policies.   Insurance companies are tightening up their underwriting criteria on new and renewal business; the standards they use are getting stricter.

So in this economic climate to maintain your course and get through the hard times your best bet is to stay focused on things “you” can control.