Reduce costs? Carefully assess the changes in insurance

 

Thursday, Mar 05,2009, 11:32:59 PM   Click:

Reduce costs? Carefully assess the changes in insurance
Insurance Writers

LOS ANGELES - (BUSINESS WIRE) - January 12, 2009 - During these difficult economic times, consumers are turning to their insurance in May of a budget-cutter. But they must exercise caution to ensure that their short-term savings do not compromise their long-term financial support, according to the Information Network of California Insurance.

"The insurance tends to be an" out of sight, out of the heart "of products, so consumers May try to make savings by reducing their coverage," said Executive Director Candysse iinc Miller. "When an assessment of your insurance, you can take steps to save money without compromising your ability to recover from an accident, theft or disaster. "

To help consumers, iinc recommends the following measures to help protect the investment and save money:


Insuring your house, not land. With property values declining, many homeowners in May think they should reduce their insurance coverage. However, given that insurance covers the structure, it should reflect the costs of reconstruction rather than the property value. To save money, consider increasing your deductible, combining several policies with the same insurer and ask about discounts.
If you want to buy flood insurance, the purchase as soon as possible. Periodically, the National Flood Insurance Program re-evaluate the risks of flooding. Although the May flood insurance costs about $ 500 per year, these costs could be higher if you buy later, under a higher risk of flooding.
Rate your car insurance. Over the past 12 months, many motorists have succumbed to high gas prices are out of their car and found other ways to get to work. If it was, and you always follow the same habits, you may be eligible for a low mileage discount. Also ask your insurer to other discounts.
Shop around for insurance, but not solely on price. Make sure that the purchasing policy that matches your priorities: May Some companies offer lower prices in exchange for fewer staff to customer service. Also, research of insurers to ensure their financial security and customer satisfaction. This information is available online at the California Department of Insurance.

Iinc is a non-profit, non-lobbying communications association representing property / casualty industry. For more information, visit our Web site at www.iinc.org.

Information Network Insurance of California
Media Relations, 800-397-1679

Keywords States: California
Industry Keywords: professional services, insurance
Source: Insurance Information for California

Copyright © 2009 Business Wire Insurance Writers LOS ANGELES - - 12 January 2009 - During these difficult economic times, consumers are turning to their insurance in May of a budget-cutter.