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$31.42

July 25th, 2014 at 03:49 pm

I've been looking into saving on my home and auto insurance. The places I have received quotes from are Nationwide, State Farm and Farmers.

The cheapest route would be for me to separate the home and auto to save $31.42/yr.

I kind of want to do it but then thinking about the inconvenience of them being separate I don't like.

Thoughts?

Posted in | 4 Comments »

4 Responses to “$31.42”

  1. Another Reader Says:
    July 25th, 2014 at 04:40 pm 1406306458
    1406306458

    Are you getting a discount for bundling your policies? You will lose that if you split them up. Check your renewal notice or ask your insurance agent if you are not sure about the bundling discount. I would also ask your current agent if s/he can find some additional discounts to beat the $31.42 savings.

  2. snafu Says:
    July 25th, 2014 at 08:51 pm 1406321460
    1406321460

    Have you asked an insurance broker to put your insurance requirements out to 'bid'? Just follow your current policies unless housing has escalated in value in your community. It helps to also get quotes for an increased the deductible. Whether it's smart to do that depends on how much you keep in your Emergency Fund. Insurers like State Farm and Farmers are actually sent to the really big Reinsuers to spread the risk particularly since interest rates are so low for savers.

    Do you pay most of your bills on-line? It's a fast, easy, no cost system easily supported by your computer's calendar to pop up reminders. The only thing that changes is the amount. When a CC began offering 5% discount for reoccurring bills, I added the insurance premiums but I'm very careful to pay the bill in full at least one business day in advance of its due date. I pay home and vehicle insurance annually only because they also give discounts.

    This is probably more than you want to know but many of us transfer sums into savings by deducting 1/12 of an annual payment like insurance from each of 12 monthly pays so when the bill is due the money is waiting. For those paid bi weekly, the deduction is 1/26th. A bite out of each pay feels less painful and more do-able.

    You need to do what's best for your specific circumstances. How do your bank charges work? Our banks are shoving their hand deeper into our pockets and now charge for services that were free in the past.

  3. Amber Says:
    July 26th, 2014 at 01:02 pm 1406379771
    1406379771

    I would check the polocies on bundking, usually it's less expensive. However, if not would keep separate if it saves me in the long run.

  4. SecretarySaving Says:
    July 28th, 2014 at 06:23 pm 1406571839
    1406571839

    It was cheaper for me to not bundle. I'm working on one more quote today.

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