Insurance Renewal
Every year around the middle of June I receive my insurance notice stating that my policy is being renewed automatically in the middle of July for my vehicle and rental property. I usually look at the cost and accept that it has increased a bit.
This year, howerver, I called my insurance company and asked if they could do any better. After a few minutes I was informed that I had very low premiums and they could not do better.
My better half suggested I get a quote from the insurance company she uses. She is part of an Allumni group plan and through her I would fall under that umbrella. After about 25 minutes on the phone I was quoted $332 dollars lower per year for the same coverage I was currently paying for.
My insurance has since been moved. When I called to inform my previous insurance company that I didn’t want to be renewed with them they inquired as to why. When I brought up the amount I saved they fully understood.
I was chastized a tiny bit for not making the phone call a year sooner year as we would have likely saved even more money. I am glad I made the switch. For the time it took I saved the equivilent of earning $796 per hour, tax free.
When renewing any product or service, shop around it could save you a bundle.
would be useful if you lay out your income and expenses…. hard to gauge things without some detail. Good job though on paying down the mortgage!
We are going to have to take a closer look at our spending to see where money is going. To give you a little perspective with the extra mortgage payments our mortgage, taxes and heat come to approximately 45% of our gross income.