June 7, 2022

The average person is over paying for insurance every year.How to over pay for insurance year after year

Would you shop at grocery stores that charged an extra 10% – 50% percent for food? What about at the gas station; how about paying a higher interest rate on your mortgage. Hey, why not, you’re probably a multi-millionaire and it’s just money right.

Yeah, the easiest way is to do nothing and continually think it is what is and I’ve just got to pay it. Stop burying your head in the sand and put a few hundred or thousands of dollars a year back in your pocket.
I can’t tell you how many times a week I meet someone outside of the office and they tell me a story about their agent they’ve had for years, they’re like a close friend; he sends me a calendar every year. That’s the most expensive calendar you’ll ever buy, year after year.

A number of years ago my own brother, who owns a construction business out of state, called me about his commercial truck insurance. It’s a small contracting business, and he said “I’ve been paying about $20,000 a year for truck insurance, do you think that’s high?” Not being licensed in that state at the time I said I don’t know; have you had your policy reviewed by anyone lately? No… Well, long story short he wound up getting another policy with the same coverage’s for $10,000, a 50% savings. He was very happy but also very upset at himself for feeling like the agent he’s been with for years was costing him $10,000 year after year and never offering to find a better rate.

So, who’s at fault with this scenario: the brother who never checked for better rates or the agent who did nothing and keep making money?

Wake up people, 5 minutes of review time with an “insurance broker” will yield money in your pocket year after year, see grocery store example above.

Obviously you’ve taken the time to read this article, so let’s take the next step and see what you can do about keeping that hard earned money in your pocket. Call your current agent and/or a broker for a new quote or review of current policies.

Insurance Brokers Group uses our exclusive RateGuard™ technology to monitor our client’s policies at every renewal for rate increases. For more information on reducing your insurance costs and keeping more money in your pocket call us at 800-459-6060 or complete the online quote info on the home page.

P.s. where going to ask the same questions that are on the quote form and you can start the quoting process 24/7.

Read More Articles:

Is bundling insurance the best way to save money?

John Espenschied is a long-time veteran of the insurance industry. He's worked with thousands of clients over the years, helping to protect their personal and business needs. John's goal is to provide the best advice possible to assist customers in saving money while protecting their property and securing their financial future.
He truly enjoys helping others and takes great satisfaction in providing top-notch customer service. When he's not working, John has fun spending time with his family, golfing, bike riding, and blogging on insurance topics.