New requirements for buying Bitcoin, the $9.84 credit card scam, buying life insurance in your fifties and sixties, and how to challenge your tax assessment.
My wife and I had an interesting conversation this weekend about our year of battling with the cost of insurance.
Our auto insurance company notified us in the fall that we would be facing a 25% premium increase. As a result, Ann started pounding the phone and got auto insurance quotes for our family of five drivers and four cars. The rates ranged from $4,000 to $10,000 for one year. Yes, all based on exactly the same coverage. In the end we took the $4,000 option which not only avoided the 25% increase with our current carrier, but we got a 20% discount from the rate we had been paying.
We were notified several weeks ago that we would have an increase in our homeowner’s insurance. The annual premium was due on Feb 1, so Ann got on the phone again and after a few phone calls she found a policy for 30% less than what we had been paying. Yes, the same exact coverage with a similarly rated insurance company.
I had already personally dropped off my wife’s health insurance policy that she has with her employer last year. This fall we moved our adult children to Christian medical sharing, as well. The result: we are saving about $400 monthly (after factoring in the cost of the medical sharing plan as a replacement).
Of course, we have a ton of information on this site on how to structure you insurance policies to get the most for your money. Consider my own examples of saving money in recent months by doing nothing more than making a few phone calls. We are not talking hundreds here, but thousands, by simply comparison shopping. Insurance companies will take your hard earned money; it is up to you to give them as little as possible, while still maintaining an adequate amount of coverage based on your situation.
James L. Paris