Watching Your Wallet: Ways to save on insurance

Watching Your Wallet: Ways to save on insurance
Published: Jun. 2, 2022 at 6:35 PM EDT
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LANSING, Mich. (WILX) - If you haven’t had any car crashes or fender benders in several years or if you have no claims against your auto insurance or your homeowner’s insurance, checking with your insurance company might pay off.

Michael Joyce with the financial firm Agili said it doesn’t hurt to ask for a re-rate. If you’ve not had any claims in recent years, you could likely see a drop in your premiums.

“They’re not going to offer this to you. They’re not going to send you an email saying, ‘Hey, we want to lower your lower your premiums right now,’” Joyce said, “but they’re in a competitive environment as well. They’re looking to keep you as an insured.”

Joyce said it’s good to get into the habit each year of reviewing your insurance policies to make sure they cover what you need.

A financial advisor or trust insurance agent could also help you see if a re-rate would potentially work in your favor and save you money.

More: Watching Your Wallet

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