Insurance quotes are a terrific way to help lower your monthly expenditures. I used a quote service earlier this year and saved $590 on my homeowners and car insurance package.
In today's economy millions of people have lost their jobs. Millions more will lose jobs as the economy worsens. Millions of unemployed persons have stopped looking for new jobs, which skews the national unemployment figures, and makes the unemployment rate appear smaller than it actually is.
Some people have had to accept pay cuts just to keep their jobs. Add to that the number of unemployed people who just closed an economy-sensitive business.
I have a good friend who is a home designer. She has been in business for over 25 years, and was a nationally-renowned designer. In 2008, her business stopped like turning off a water faucet. She has just gone out of business. Will her business ever come back? No one knows.
Colleges and universities across America just finished commencement ceremonies, where tens of thousands of young graduates got their degree and a handshake. However, job prospects look bleak for this graduating class. According to an ABC News story, last year over 51% of graduates had a job when they left school. This year, the number is only 20%. But they still live in homes and drive cars every day.
An increasing number of people are allowing their insurance policies to lapse, or they are canceling them outright. They simply made a decision that they cannot pay the premiums anymore.
What a horrible and tragic decision! Cancel your cell phone...your cable TV...your internet connection...your gym membership...your electrical service. But don't go without insurance!
"Cancel my home's electrical service??" I hear you sputter. "Have you lost your mind?"
Listen to me. You could temporarily live without electrical service in your home and your life would not be destroyed. But just have ONE insurance loss without coverage, and your financial life could easily be destroyed for the rest of your life.
A fire could wipe out your home or business. An auto accident could destroy your vehicle. If the accident is your fault, the claimant could sue you for damages, which could run into the hundreds of thousands of dollars.
In every example shown above, those people have homes, cars and businesses. In the area of auto ownership, every state in the USA and every Canadian province requires auto insurance by law. So, if you cancel your auto insurance, not only are you without coverage, but you are also committing a misdemeanor in most jurisdictions.
In addition, if your home, business or vehicle is financed, your lender requires you keep Property coverage on the property at all times. If the lender finds out that you have canceled your coverage, they likely have the right to declare you in default on your loan, and require payment of the balance. They could repossess your car, home or business. At the very least, they could purchase coverage on your car, home or business property for the loan balance and charge you for it. This is called "forced-placed coverage," and is very expensive, inferior coverage.
Before you make a choice to cancel your insurance policy, stop and consider getting insurance quotes that could lower your insurance premiums.
The process of getting insurance quotes is simple and IT COSTS YOU NOTHING! All you have to do is go online and use the search term "Insurance Quotes." You'll find hundreds of quote websites, all eager to get that quote for you.
Simply fill out an easy information form, giving the quote services details about what you want to insure and submit the form. Within minutes, you'll begin receiving contacts from agents and insurance companies who want to compete for your business. Make sure that the coverage quoted are the same, and choose which vendor offers the best deal. Most times, the agent will do all the paperwork for you if you are switching from one company to another. Then, choose your new insurance company and breath easier with YOUR SAVINGS!
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