Whether you’re deciding to buy a new home, rent an apartment, move to the big city, or propose to your high school sweetheart, lifestyle changes can significantly impact your health, auto, life, and homeowners insurance rates. Yet, with potential changes in mind, you can actively find ways to lower your insurance costs as you continue to progress and achieve your life goals!
The Policy’s Price for Progress
Moving – If you’re heading out to move into a new home or rental unit, your location and zip-code can actually impact your auto and homeowners rates. Specifically, if you choose to move to a location that is closer to your place of work, then your auto insurance rates may drop, as reduced reported mileage lowers your coverage risks. Similarly, if you move to a location that is in a safe and low-crime area, your homeowners costs should also go down, as you will be less likely to experience theft and / or criminal damage than policy holders in higher crime regions.
Large Purchases – Before getting down on one knee, purchasing the big flat screen television, or buying the luxury hot tub for the back yard, check with your homeowners insurance provider to verify if your new purchases will be covered under your current plan. As expensive housing items, engagement / wedding rings, and other major purchases can be added to a plan, you can relax with your newly acquired items without having to worry about losing your investment from theft or loss. When adding major items to one’s policy, however, the rates for the policy may slightly increase.
Marriage – Choosing to get married can actually allow you to take advantage of lower homeowners / rental rates and auto insurance rates! While each couple may be able to gain specific advantages that fit their own unique needs and circumstances, newlyweds can consult with an insurance / financial advisor to find out how to cut back on their average policy costs. Additionally, un-wed couples who cohabitate can also apply for combined policy discounts and savings.
