With so many different types of coverage options available on the market today – and many of them necessary to live a normal “day to day life” (we’re looking at you, health and car insurance), finding the very best and most valuable protection that will not break your bank account into tiny little pieces becomes a lot more challenging than most people expect it to be.
Thankfully though, there are a couple of different tips and tricks you’re going to be able to utilize (many of them we share with you below) to not only find the best and most complete protection, but to also help you find valuable coverage that will not cost you any more than absolutely necessary.
Shall we dive right in?
Research Clifton NJ insurance options BEFORE you make a major purchase
The overwhelming majority of folks out there make the big mistake of researching options only AFTER they make a major purchase (a new car, a new home, etc.) when they should have been researching all of the different coverage plans available BEFORE they pulled the trigger on that kind of big-ticket item.
You want to know not only how much your new purchase is going to cost out-of-pocket, but you are also going to want to know its “total cost of ownership” – which will inevitably include the amount of money that you are regularly spending on a policy.
Make sure that you factor these figures into your budget so that you know how much you’re really going to have to spend to make that major purchase in the first place.
Always save up as much money to go towards hired to deductibles that will lessen your monthly premiums
One of the savviest ways to dramatically reduce the amount of money you have to spend on your policy is to hike up your deductibles just as high as you are comfortable with.
Some research shows that people have been able to knock upwards of 25% off of their monthly expenditures just by increasing they are deductible from say $500-$1000 – something that you should be able to do with effortlessly if you have planned ahead and already put this money aside to be used in the event of an emergency.
Not only should you be able to save up the amount of money that you have to spend on your deductible in advance, but you’ll also be able to replenish those savings if you have to spend them or even grow those savings with the money that you are able to save on your monthly premiums for these higher deductibles in the first place.
Do your very best to never allow your coverage to lapse
There are a lot of people that have allowed specific types of coverage to lapse (especially if they didn’t necessarily have to take advantage of that any longer), only to find out that they are paying a lot more when they go to reactivate or renew the policy than they used to be previously.
Even the best companies pull this kind of trick on their customers, which is why you are going to want to seriously consider not to completely eliminating the coverage you may no longer need but instead reducing it to its bare-bones minimum so that you continue to receive this coverage and do not get hit with sky high rates later down the line.
It’s something to consider, anyway.
Never make the mistake of automatically renewing your policy at the end of each term
There are quite a few Clifton NJ insurance companies (and most of the national companies as well) that are going to do absolutely everything in their power to encourage you to automatically renew your policy at the end of each term.
These companies are going to tell you that it streamlines the process, that it speeds up your coverage options, and that it gives you continuous coverage with no difficulty whatsoever.
What they may not tell you, however, is that it almost always costs you a lot more money in the long term – especially since you aren’t taking the time to research other options that may be just as valuable but considerably less expensive.
Do not get suckered into buying automatically renewing coverage, and if you find that automatic renewing coverage is included on your policy make sure that you have your agent remove it ASAP.
You may well decide to continue moving forward with one specific company from here on out, but you’ll still want to have the option and opportunity to walk away from any plan at any point in time should you find a better deal at a better price.
Try not to purchase the least expensive, unless it’s also the most valuable
Most people (understandably) aren’t all that excited about having to drop a ton of money each and every month, especially if they aren’t or haven’t ever had to take advantage of the protections that they are paying for.
This leads people into purchasing the least expensive coverage available as they believe anything else would simply be throwing money away, but that’s not really the case.
You want to be sure that you are completely and comprehensively covered by the very best policy that meets your specific budget. Always look to purchase the most valuable coverage, even if that means you have to spend a little bit more along the way.
Read the fine print before signing on the dotted line
At the end of the day, it’s always going to be advantageous for you to pay really close attention to all legal documents and contracts that you sign – especially your contract with a Clifton NJ insurance company.
Read the fine print, be sure you’re getting exactly what you were promised as far as coverage is concerned, and be sure that the prices you are paying for your new contract are exactly as agreed upon.