The Questions and Answers on Insurance Planner (PDF Edition) by Tony Steuer

The Questions and Answers on Insurance Planner (PDF Edition)

Top Ten Insurance Tips: 
  1. Shop around and be sure you understand the basis for any rejection or modifed premium you encounter. 
  2. Check the financial stability of the companies you are considering with rating services. 
  3. Choose the appropriate type and amount of insurance for your property and lifestyle. Be sure you are fully covered for disability, long-term care, flood, earthquake, etc., but cut unnecessary riders and review your policies annually. 
  4. Be honest when filling out your application. If you fib or omit anything, your entire policy may be voided, usually at claim time. 
  5. Take advantage of discounts such as multiple policy discounts, home safety, low mileage discount, marital discounts, and preferred health reductions. 
  6. Read your policy carefully. Make sure you fully understand your policy and all of the terms. 
  7. Cover yourself. Be aware that premium notices may not always reach you in the mail. Also, save copies of your insurance policies, notes from conversations with your insurance agent/broker and other important documents in a safe location. Store electronically or keep copies outside the home.
  8. Reduce your risks. Some ideas include: Quit smoking, eat healthy and exercise regularly, perform household maintenance such as reducing fire hazards and Drive safely (watch your speed and avoid tailgating) 
  9. Pay your premiums more frequently for a reduced total cost. Calculate your savings: http://www.tonysteuer.com/apr-calculator/ 
  10. Increase your deductible. Generally you can see significant savings from paying more out of pocket.