What was your New Year’s resolution for 2013? The popular ones include losing weight, quitting smoking, and saving money. You might be struggling to keep that promise to yourself right now. Hang in there! Keeping some types of New Year’s Resolutions could save you some money on your insurance premiums.
No matter what your insurance premiums cost, you probably would be happy if they were lower. This is true for auto insurance, life insurance, and health insurance. Fortunately, there might be a few ways to convince your insurer that they should lower your rate, or, at the very least, not raise it.
You may be surprised to learn that this could involve sticking with your New Year’s Resolutions. Insurance companies figure out what to charge you for a premium based, in part, on how much of a risk they think you are. People who are considered to be low risk can end up with lower premiums than those who are seen as high risk. Lower your risk, and you could end up spending less on insurance.
Lose Weight
This is probably the most popular New Year’s Resolution of them all! Although many people want to lose weight for cosmetic or aesthetic reasons, it is possible to improve your health by losing some weight.
According to the Oklahoma Insurance Department, lowering the number on the scale can save you somewhere between 5% and 15% on the cost of your life insurance premium. Some insurers will allow existing policyholders to apply for better rates. It could, potentially, be applied to a new or existing policy.
Quit Smoking
Health insurance companies tend to charge a person who smokes a higher premium than they will for a non-smoker. If you quit smoking, it could result in a lower premium for your life insurance, health insurance, disability insurance, or long-term care insurance. The Oklahoma Insurance Department says that, in general, an insurance company will require a person to be free from tobacco for 12 months before they will give them the non-smoker rates.
Put Down Your Smartphone
Texting while driving is an excellent way to get into an automobile accident. Talking on the phone while driving is also a distraction. Drivers who are focused on the road ahead of them, and the vehicles around them, are less likely to cause an accident.
Put down your smartphone, and you could be preventing yourself from traffic tickets. Just one traffic ticket can lead to an increase in the cost of your car insurance premium. Doing so will also help you keep your New Year’s Resolution of becoming less involved in social media.
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