Before submitting the payment, see if there are ways to lower your costs.
Most important points
- Insurance bills may be higher this year thanks to inflation.
- Call your insurance company to ask if there is a way to lower your rate.
- Also check if there are any discounts that you are not yet receiving.
A few weeks ago, I opened my email to see my auto insurance and homeowners insurance bills, which I bundled with the same insurance company. And, like seemingly everything these days, I noticed that prices had gone up since last year. I’ve been doing my best lately to cut costs where I can to fight inflation, and I realized it had been a while since I’d talked to my insurance company about the rates I was being charged.
I wasn’t sure if I could get the amount on my account reduced, but I decided it was worth a try. The worst thing they could say was no, right? So I picked up the phone and called my insurance company’s customer service.
Asked for a lower bill
I make it a point to be as friendly as possible when I’m on the phone with a customer service representative. For starters, I imagine they have to deal with a lot of incriminating calls every day, and I don’t want to add anything to that. But I also find that the person on the other end of the line is usually more receptive if I put in a little effort. The man I spoke to recently was very friendly from the start and seemed eager to help.
I explained that I was a long-time customer with bundled car and home insurance and wondered if there was a way to lower my bill. He immediately looked at my history and acknowledged that my credit had not been checked since I last moved several years ago. He ran that again in his system (after explaining that it wouldn’t result in a hard credit check) and happily told me that my score had risen significantly since then. I would immediately get about $80 off my auto insurance and even more off my home insurance.
Ask about available discounts
The next thing I asked the insurance representative was if there were any available discounts I was eligible for that I wasn’t receiving yet. I already had a discount for bundling my policies and setting up autopay, so I wasn’t sure I could get much more. But he took another look and recognized that I could lower my bill even further by signing up for paperless statements. Nearly $10 off per policy, plus less mail in my mailbox and filing cabinet? Double profit!
Then the rep mentioned a few other ways to shave some of the cost off my bill. The first was signing up for a program that monitors driver habits and offers discounts for good driving behavior. I haven’t signed up for that yet, but I may consider it in the future if I need another way to save.
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The other option available to me was signing up for a no-annual-fee credit card with my insurance company. This would not result in an instant discount, but I would receive a refund if I used the card to pay my insurance bills and eligible purchases in the future. I haven’t signed up yet, but it’s something I’ll consider if I plan to add a new credit card to my wallet in the future.
More money in my pocket just because I ask
At one point during our call, the customer service representative actually said, “It’s really nice to be able to give people discounts.” I got the sense that he really enjoyed being able to tell me some good news, and I made sure to let him know how much I appreciated his help. In one 10 minute phone call, I had reduced my insurance bill by about $200.
That made me think of other ways I could reduce my spending and keep a little more cash on hand. Maybe I can call my credit card company and ask them to waive the annual fee on my card. Maybe I can ask for a raise at work. Maybe I can see if a store matches the price of an item I’m eyeing. It may not always work, but it’s always worth a try. Because sometimes, if you want more money, all you have to do is ask.
Our best homeowners insurance companies for 2022
There are many homeowners insurance companies to choose from. We’ve researched dozens of options and shortlisted our favorites here. Looking for a green construction discount or convenient bundled policies? Do you want a user-friendly interface? Read our free expert review and request a quote today.