https://www.youtube.com/watch?v=rNLoqEr546o

When you shop around for insurance, it’s best to start with a game plan.  Then you know what to look for and how to save on insurance without sacrificing value. It’s just like shopping for groceries, a marketing strategist, or an investment property.First, you need to know what you want.  Next, you want to know how to get the best deal. Finally, you need to know where to find it.If you’ve been following along in this series on protection, you know why you want insurance.

You’re here because you want an insurance strategy that transfers as much risk as possible to protect your human life value. You want as much of the best, most enduring, highest quality coverage you can get.

Now it’s time to find the best deals.

Over the next three articles, we’re going to walk you through how to save on insurance.

We’ll answer:

How do I maximize the value I get for the least premium?What protections should I have?What are some pitfalls to avoid, so my protection doesn’t become a money leak?

Today, we’ll show you seven tips to get the most and best value coverage for the least premium so that you can feel protected and secure.  You’ll gain confidence and peace of mind without giving up any more of your dollars in monthly expenses than absolutely necessary.

Table of contentsPreviouslyWhere Insurance Fits into Your Whole Personal EconomyBanish Buyer’s RemorseConfident Insurance Shopping Is the Goal7 Tips to Save on Insurance#1) Know What You’re GettingFrom Cost-Conscious to Value-Conscious#2) Have Emergency SavingsBoth Parties Must WinRisk Sets RatesThe First Dollars of Coverage Are Most ExpensiveWhat Is the Deductible?Does It Make Financial Sense to Raise My Deductible?Cost-Benefit AnalysisDo You Plan to Use Your Coverage?The Hidden Superpower of Savings#3) Start with the Maximum#4) Get an Umbrella Policy Homeowners Insurance & Car Insurance Is Not Enough #5) Bundle Lines of Coverage With Insurance Companies#6) Cut Duplicate Coverage#7) Own It Personally7 Tips to Save on InsuranceUp NextThe Whole Series on Insurance ProtectionTake Action to Save on Insurance

Previously

If you're not sure why you would want insurance in the first place, here’s the first three articles in the series to help you do exactly that:

Why You Want Insurance Part 1 examined what insurance does. It transfers risk.Why You Want Insurance Part 2 discussed why it matters. It protects your greatest asset.Why You Want Insurance Part 3 covered the cost and answered why you should pay for insurance. It costs more to self-insure.

Where Insurance Fits into Your Whole Personal Economy

Let’s zoom out for a moment to remember where and why insurance fits into your Cash Flow System.

Your foundation starts with keeping more of the money you make.  Second, you protect what you’ve built.  Finally, you increase your income to build time and money freedom and expand your legacy.

Insurance fits in the protection stage.  With it, your livelihood is no longer at risk, but secure, regardless of the life circumstances you face.

Your protection is like a roof on your financial house.  When the shingles are sufficient and cover the whole house, it keeps storms outside your house, preventing them from getting inside and destroying your belongings.  Similarly, when you have adequate insurance protection, your income and assets you’ve built are safe from financial storms that may occur in your life.

Banish Buyer’s Remorse

If you’ve recognized a disparity between the coverage you have and the coverage you want, it’s time to go shopping.  Whether you are purchasing insurance for the first time, adding new lines of coverage, or shoring up an existing strategy, the decision can be quite overwhelming.

At the store, when you go shopping without a plan, a well-meaning salesperson asks you what you’re looking for and how they can help.  Instead of sounding nice,