Optimizing Your Insurance Policies (Auto, Home/Renters, Umbrella, Life, Disability, Pet, and Travel)

#104: In this episode, Chris covers all things insurance. He explains the process he went through to reduce the cost of his insurance policies as much as possible while still maintaining adequate coverage from a reputable carrier. He discusses auto, home, renters, umbrella, personal articles, life, disability, pet, and travel insurance. Chris also talks about the policies he has been concentrating on lately, and shares resources to help listeners save money.

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Selected Links From The Episode

• "Better" Insurers: USAA | Safeco | Amica | Travelers (discount for PenFed members)
• Premium Insurers: Pure | Chubb | Cincinnati | AIG | Nationwide Private Client | The Hartford
• Other Carriers Mentioned: NJM | Auto-Owners | Erie Insurance | Country Financial
• Products: Ring | Alarm Smoke and CO Listener | Alarm Flood & Freeze Sensor | Nest Protect smoke and CO alarm
• Articles on Term Life:  The White Coat Investor | NerdWallet
• Laddering Life Insurance: Policygenius Article
• Term Life Companies: Fabric by Gerber Life | Term4Sale.com
• Disability Insurance: Guardian | MassMutual | Social Security Disability Insurance
• Travel Insurance: Trawick | Covac Global | WorldNomads 

All the Hacks Episodes Mentioned

• #66 Rental Cars: Saving Money, Avoiding Fees and All the Secret Tricks
• #35 Stacking Benjamins and Modern Money Management
• #98 Buy Back Your Time: Get Unstuck, Increase Productivity and Live the Life You Want

All the Hacks Newsletters Mentioned 

• Hidden Credit Card Benefits
• Insurance Hacks Part 1 (Home/Auto/Liability/Pet)
• Insurance Hacks Part 2 (Life, Disability and Travel)

Full Show Notes

Introduction to insurance episode (00:00)

Shop for insurance to save money (02:21)

You get what you pay for: Understand your coverage (03:42)

Auto insurance (05:07)

Liability (05:46)

Comprehensive coverage (06:51)

Collision (07:03)

Medical payments (07:31)

Adequate auto insurance coverage (07:48)

Insurance rates (10:42)

Tracking mileage (13:23)

Other ways to save on auto insurance (14:32)

RIdeshare, rental car, & tow coverage (16:14)

Car replacement assistance (17:22)

Coverage on repairs and replacements (18:18)

Differences between carriers (19:15)

Non-owner liability policy (20:22)

Homeowners insurance (24:00)

Renters insurance (24:35)

Coverage lettered labels (24:58)

Extended reconstruction coverage (26:35)

HIgh-value carriers (28:56)

Loss of use coverage (30:01)

Extra policies to consider (31:12)

Ways to save on homeowners insurance (32:33)

Comparison shopping hacks (35:34)

High-value items (37:41)

Additional liability coverage (38:20)

Deciding & evaluating carriers (43:34)

Bundling (48:29)

Life insurance (52:42)

Pet insurance (57:50)

Disability insurance (59:59)

Travel insurance (1:02:51)

Final insurance tips (1:05:40)

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Editor’s Note: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.