I have had the same home and auto policies through the same agent (whom I’ve never met I might add) for my entire adult life.   Why? Because it was the person my family always used.   Taking a hard look at expenses recently I decided to shop around and see what I could find.   Could I save money while maintaining adequate coverage?

Drum roll..the answer is a resounding yes!   I got a broker recommendation from my financial advisor and gave him a call.   The policies I wanted reviewed were my home, my partner’s auto, and my auto.   After a few calls and faxes, he sent me some rate quotes.   Turns out for the same (or better) coverage I could save a total of $520 annually by making the switch.     No small potatoes!

So I am in the process of signing and finalizing the switch, but I couldn’t wait to encourage others to at least evaluate what you are paying and what coverage you have.   While saving money is great, ensuring you are not underinsured is just as important.   Who cares if you save a few hundred a year only to have a catastrophic total loss and realize you were only insured for actual cost and not replacement value.   Suze Orman talks about the importance of replacement value coverage in her insurance resources.

Paid for This Twice Already had a good article about reviewing insurance and saving money. Sense to Save talks about her experience saving money on car insurance and shares her price and coverage comparisons.

As I always remember it is not always about how much money you make, sometimes it is more about how much money you keep.   Therefore, now is a great time to take a look at these fixed expenses and see if you could save some money or at the very least ensure you’re adequately covered should something happen.

Photo Credit: Jessica Merz

Paula Gregorowicz, owner of The Paula G. Company, offers life coaching for lesbians to help you gain the clarity, confidence, and courage you need to have success on your own terms. Get the free eCourse “5 Steps to Turn Fear Into Freedom” at her website