How To Insurance | 019 | 6 Month or 12 Month Insurance Terms
Hi, I’m Peter!
Welcome to HOW TO INSURANCE
Helping YOU understand insurance, building CONFIDENCE for your future!
Today, we are asking the question...
6 Month or 12 Month Insurance Term?
Commitments
We all have contracts and memberships with commitments, right?
This is why I love to hate my cable and internet company… the only way I can get the best rates is to commit to a 2 year contract with them. So, I save money but I feel stuck and would have to pay a huge penalty if I cancel the service.
Insurance companies work a little different and you need to understand this:
It’s in your benefit to sign a 12 month insurance policy for your home and auto, not 6 month policy.
I’ve noticed that when a lot of new clients come to me, they show me their old insurance and it’s a 6 month policy. That may have seemed like a good idea at the time, but all that means is that this insurance company is only committing to cover you for 6 months at that rate. The shorter term gives the insurance company the opportunity now to change the coverage and change the premiums when you renew in just 6 months.
What if you had an insurance claim in month 3? Now the insurance company has the opportunity to raise your premiums and penalize you sooner!
I always recommend - get a 12 month policy for your home and auto and then have confidence knowing your rate is locked in!
Also, you only have to hassle with renewing your policy once a year.
What if I want to Cancel Early?:
But what if you want to cancel the policy before the term is up?
No problem, you can always cancel the policy, at any time and receive a pro-rated refund from the insurance company!
In Summary:
6 Month or 12 Month Insurance Terms?
Go for the longer, 12 month term policy and lock in that rate for the entire year!
At Apple Insurance Solutions,
We all want to protect what matters most to us in life,
but finding the right insurance can be confusing.
So I make it simple.
As Your Insurance Broker,
All your insurance is covered in one relationship,
saving you time and
building confidence for your future.
If this was helpful to you, please:
“Like and Share” this post and
Contact me at peter@appleinsurancesolutions.com
Also, keep in mind, that as Your Insurance Broker, I offer insurance for auto, home, life, health, medicare, umbrella and business… when you work with me, all your insurance needs... are in one relationship.
Thank you for reading HOW TO INSURANCE
Helping YOU understand insurance,
building CONFIDENCE for your future!
Insurance Broker
Apple Insurance Solutions
360.818.4865 | appleinsurancesolutions.com
Auto | Home | Life | Health | Medicare | Umbrella | Business
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