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Tips for Saving Money on Insurance

This is a quick section to put together some advice and tips for keeping and getting lower prices on home and auto insurance. It’s important to follow these tips to keep low rates. If

Tips for Saving Money on Car Insurance

  1. Always keep an active insurance policy (Don’t Lapse or Cancel for Non-Payment). If you total your car don’t cancel your car insurance unless you don’t have any plans to get a new car. By keeping your policy active you avoid the stiff penalities insurance companies chargefor not having prior insurance.
  2. Don’t switch insurance companies every 6 months. Customers who do this end up hindering their ability to find a great carry because they’re not loyal. Only loyal people are going to be eligible for lower insurance premiums, especially in high-risk cities like Boston, Worcester, Framingham, and Springfield.
  3. Pay your premium in full each policy period and save up to 20%. Most people finance their insurance policies through the companies. They know when you pay monthly you aren’t considered financially stable and you could miss a payment or cancel the policy. This is why in 2020, may insurance companies bill you more for doing monthly and the give up to 20% off just buy paying in full. If you can’t pay in full for the year, find a Progress agent to help you find a 6 month policy. Most companies also charge a $6 monthly processing fee for automatic payments so you’ll save a minimum of $72 by paying in full outisde of the “pay in full discount”.
  4. Carrier high coverage limits. If you carry $100,000/$300,000 when you’re trying to find a better car insurance company to switch to you’ll find the rates are better. Insurance companies like responsible drivers. Responsible drivers don’t drive around with state minimum coverage because they could put themselves in serious financial jeopardy in the event of an accident.
  5. Bundle homeowners and auto insurance to maximize your combined insurance savings both on the home and auto insurance. Also bundle any additional lines of insurance like a motorcycle, boat, RV, umbrella, or commercial auto and save even more.
  6. If you have a small claim it may make sense to pay the expense “out of pocket” instead of filing an insurance claim that can stay on your record for up to 6 years in Massachusetts.
  7. Drive safe, don’t speed or tailgate and avoid driving when we have terrible New England weather.
  8. Don’t park in the street and avoid “hit & run” insurance situations. Many residents of cities pay too much because other people hit them. It doesn’t seem fair but that’s the way insurance works. They (the insurance company) pay, you pay. It’s only recently that Massachusetts personal auto insurance companies started rating on not-at-fault accidents and hit & runs. Don’t be a victim, don’t park in the street. If you’re only option is street parking, you should consider moving to somewhere else.
  9. Make sure if you need to cancel an insurance policy that you do it the right way. As an insurance agent who does this every day I hear “Oh I cancelled that policy” and I say, “Yeah, how did you do that, just by not paying?”. There is right way and a wrong way to cancel your Massachusetts auto insurance policy, if you do it the wrong way it can make it so you have to pay your car insurance in full for the year due to a “cancel for non-payment“.
  10. Speak with an expert home and auto insurance agent at Premier Shield Insurance who will actually care about you and your situation. In 2021, most insurance agencies in Massachusetts are retiring, selling out, or paying 30k to a customer service rep who is annoyed by your call.


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