Lower your
insurance costs:
Shop around for any type of insurance, because prices
vary.
You may be able to get group insurance through an
organization to which you belong.
Stop smoking to save money on life insurance and/or house
insurance.
a. Life insurance
You will need life insurance if you have
dependents. You have a choice between 2
different kinds of life insurance - whole life insurance and term life
insurance. Whole life insurance is a life insurance policy combined
with a savings program. It is expensive, and not a
good investment. Term life insurance is just a life insurance
policy. You are far better off buying term life insurance and
doing the investing yourself. Once you
are financially independent (see Free in
30!), you will no longer need
life insurance. We always purchased term life
insurance, and stopped buying it in our late 40's.
b. House insurance
You can lower your house insurance costs by increasing your deductible.
If you do this you won't be insured for small
claims. However, you don't want to make small
claims. They are not worth all the paperwork and
hassle, and your rates may increase or your insurance
may be cancelled.
House insurance providers may provide discounts for
c. Car insurance
You can lower your auto insurance costs by increasing
your deductible. You may have to pay the deductible in
some circumstances where you are not at fault, such as a hit
and run, vandalism, cracked windshield, etc.
Tip: Lower your
insurance costs - shop around.
Revised: July 19, 2010
