10 Lesser Known Insurance Tips that can Save your Family $10,000

Insurance is basically protection from financial loss and is a form of management that is used to hedge against the risk of a contingent or uncertain loss. It sounds really fancy and great but the fact remains that no matter how much insurance helps us later on in life, it does create a hole in your pocket and limits your monthly budget massively. It does not matter if it is car, home, life, business or health insurance, for most of the households, it is the major monthly expense. A statistic of 2013 shows that Americans have spent about $961.7 billion on private health insurance alone. The concept of insurance is very simple but there is an alarming number of options available. Here are some simple ways in which you could save yourself and your family quite a lot of money.

10. Compare

Do your homework and find the best possible deal. Most of us get so used to the same thing that is being advertised and recommended that we forget that other companies provide the same product and probably at lower costs. Also, when insurance is considered, there are criteria that are considered before providing you with a quote and most companies have their own ways of assessing risks associated with insuring you and this holds very true with items resulting in major expenses like cars, houses, business and health insurance. This explains the reason for different companies charging different amounts for the exact same services for the exact same clients. Get a minimum of three different quotes and compare them and you can use the internet to make bid for your business by filling out just one application or you can the help of an independent insurance agent at the cost of a commission.