Check Up Time from Helen

It’s time to do your annual check-up on your policies and contracts.  You may be resistant to the little bit of work require for this activity, but if you put it off you could be losing hundreds maybe even thousands of dollars per year.

Last year, we have a contest to see who could save the most money annual and the winner saved over $3000.00.  Think about what you could do with an extra $3000.00.  Just think, if she had not have checked on potential reductions.  She would have just given away $3000.00.

Here are my suggestions or should I say tips for this week.

1. Check your insurance policies.
   1. Shop around and compare rates from different companies. Be sure to compare apples with apples. Consider raising your deductible. According to epublications.gov. Deductibles are the amount of money you have to pay toward a loss before your insurance company starts to pay a claim, according to the terms of your policy. The higher your deductible, the more money you can save on your premiums. Nowadays, most insurance companies recommend a deductible of at least $500. If you can afford to raise your deductible to $1,000, you may save as much as 25 percent
   2. Consider raising your deductible. According to epublications.gov. Deductibles are the amount of money you have to pay toward a loss before your insurance company starts to pay a claim, according to the terms of your policy. The higher your deductible, the more money you can save on your premiums. Nowadays, most insurance companies recommend a deductible of at least $500. If you can afford to raise your deductible to $1,000, you may save as much as 25 percent.
   3. Improve Your Home Security. You can usually get discounts of at least 5 -20 % for a smoke detector, burglar alarm or dead-bolt locks. We added a security system to our home and to my surprise it reduced our home insurance. Caution, some of these systems aren’t cheap and not every system qualifies for a discount. Before you buy such a system, find out what kind your insurer recommends, how much the device would cost and how much you’d save on premiums.
   4. Remember, review the limits in your policy and the value of your possession every year.
2. Check your cable bills. Believe it or not cable bill could go up every 6 months especially if you were on a promotional rate.  The good news is all you have to do is call back in and threaten to switch providers and they will give you another 6-month promotion. I just reduced my bill by $30/month.  It’s a headache to call in every 6 months, but it can save you $20-$40 bucks a month.  That’s $240 – $480 per year.   Please note, you may have to go as far as to ask for a transfer to the disconnection agent.
3.  Check your mobile phone bill. Apps like MyRatePlan.com and WhistleOut.com help you compare    mobile phone rates and they will spit out a recommended provider.  They ask you to enter the minutes, data and text messages you use in a typical month and how many phone lines you need.

You can also call your existing provider to see if they have any promotions.  Given the competition across providers, they are always running promotions.  Don’t miss out on getting yours.

I’d love to hear how you reduced your policies.  Plan to share so others can benefit also. Join us at https://www.facebook.com/groups/90daysavings/

If you’d like to join the 90-Day Savings Challenge and save at least $500 by June 30, 2016, jump in at https://helencrawleyaustin.org/90-day-savings-challenge/ .

Grow and Prosper,

Helen