I don’t know about you, but I love bargains. There is an indescribable joy in getting the price reduced after exercising your negotiation skills. With insurance premiums shooting upwards each year, it is high time that we discussed tangible ways to negotiate a reduction.
Here are some easy ways to flex your negotiation muscles:
Safety goes a long way toward reducing your insurance premium
Let us suppose that you are looking to negotiate the premium rates for your home owners insurance. If you look at the situation from the insurance company’s point of view, you will easily understand that the more secure your home, car, business, or any other asset is, the less likely you will be to claim insurance for theft, accidents or fire. So, beat the insurance company at its own game by installing safety measures like fire alarms, burglar alarms, car safety devices, and other common sense safety measures. Highlight this point while discussing a reduction. You will be pleasantly surprised to see that this tactic works, more often than you know.
Consolidate your insurance policies
If you are like any of the other million citizens of this country, you probably have at least three insurance companies to manage your different insurance needs like car insurance, health insurance and home insurance.
Most of the popular insurance companies provide comprehensive insurance coverage and it is in your best interests to consider a consolidation. If you can choose just one insurance service provider and assign all the different types of your insurance needs to this one company, you will be in a better position to negotiate for discounted rates and qualify for great deals.
Choose a higher deductible
This helps in a large way, so choose a higher deductible on your insurance premium. But before you take this leap, make sure that you are prepared and can manage to pay the high deductible amount when the situation warrants it.
Act like an insurance expert and negotiate confidently
Most of us have settled down with our car insurance providers and are paying their premiums without even bothering to check out the loopholes that can help us negotiate a reduced rate. So, make a list of the features in your car that you think will qualify you for a reduced rate and then call your car insurance provider. You can then read out the list to the employee who answers the phone and confidently demand a discounted price.
In case you are still wondering about the loopholes, here is a short list for your reference:
- Anti-lock brakes in your car
- Low risk occupation
- Defensive driving course
- Higher deductible
- Add your own …
Don’t forget to compare insurance rates
Comparing different insurance rates is the easiest way to negotiate cheap insurance rates. In case you don’t know where to start, you can visit our insurance comparison page as a starting point. In just a few minutes you can compare different insurance rates and save money.
Negotiating is a skill that some are born with, but the rest of us work hard to develop it. But when you find out about the amount of money that successful negotiators save, you will certainly find the motivation to train yourself. We hope these tips will help you negotiate cheap insurance rates. You deserve the savings!
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