Budgeting Your Insurance Expenses

Insurance Budgeting 101

Everyone knows how important insurance it is, yet many see the expense of these vital safeguards as a bothersome expense. Since you simply cannot afford to go without insurance, it is best to find effective ways to budget your policies. If you thought that it was impossible to save on your insurance policies, allow these informational points of guidance for budgeting your insurance to assist:

• If you have been faced with an expensive premium that leaves you distraught every month, it may be advantageous to raise your deductible. However, before doing so, you must check your emergency fund to ensure that you will be able to cover that elevated deductible if you ever need to file a claim.
• Take a moment to look into loss control strategies. By asking your insurer what measures you can take to make the world a safer place and receive an insurance discount by doing so, you can take advantage of your loss control efforts. For example, if installing a security system at your house would land you a substantial discount while also making your home significantly safer, there is no reason to not make the upgrade.
• If you are involved in a minor accident with your garage door, it may be advantageous for you to not file a claim. We are not suggesting being involved in a hit-and-run accident, but if your ride incurs damage after you hit your garage door, it is not worth it to file a claim, especially since damages will not exceed your deductible.
• One of the easiest and most effective ways to budget your insurance is by scheduling an annual insurance review. This meeting allows you and your agent to sit down and discuss your coverage, ensuring you are not overpaying for unnecessary coverage options.

Contact Scavone Insurance Agency Center LLC in White Plains for all of your New York insurance needs. We will go above and beyond to provide you with the level of coverage and attention you deserve, all at the most competitive prices.