It's the open secret of the insurance game: File a claim, your premiums go up. For that reason, it's in your interest – as much as possible – to shoulder small damages out of pocket.
For home insurance, raising your deductible from $500 to $1,000 could save you 25% on premiums, according to the Insurance Information Institute.
16. When you buy insurance, choose the highest deductible you can afford. It's the easiest way to lower your premium.
|
You don't have to spend a lot of time to put your financial house in order. Money Magazine shows you the easy way. (more) |
