Do’s and Don’t of Cutting Insurance Costs
I had a terrible start in life and went through all kinds of trials and tribulations to make it to adulthood semi-functional and occasionally sane, but my most embarrassing and shameful secret is this:
I used to be an insurance agent.
There. I’ve said it. I’m ‘out’!
We all have to earn a living somehow, and for about five years I earned a fairly decent one in the insurance industry. I’ll tell you this much: If anyone is going to have money in tough times and good times, it’s an insurance company.
Insurance companies look out for #1–themselves–and you should be doing the same thing.
The average person can actually benefit from buying property & casualty insurance. (I know, I know, the insurance companies are Evil Overlords and so on and so forth, but some crumbs of value really can be found, so bear with me, OK?)
It’s not easy to save money on insurance, and the way to go about making the most of your policy is not always about getting the cheapest rate, but you definitely can save money if you understand what you are doing.
During my stint as an agent for a big multinational insurance corporation (not AIG), I personally talked to thousands of people each year (about 10,000 per year to be exact), and what I learned from that experience is that people don’t always think clearly when they are trying to save money.
Since lots of people in the U.S. are currently trying very hard to save money, I thought I’d list some quick do’s and don’ts.