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Maximize your insurance dollars

Posted September 18, 2013 in Advice Column, Winterset

These days, who couldn’t benefit from saving a few dollars? We’re all looking for ways to tighten the proverbial belt, and making adjustments to your insurance coverage is one way to save money. These ideas can help you maximize your insurance dollars while ensuring you have adequate coverage should   the unexpected occur.

Homeowners coverage. Insuring your home for its sale price seems like an attractive option for cutting insurance costs. But it’s important to adequately insure your home not only to cover its cost, but to rebuild and replace your belongings. Instead of lowering your coverage, raise your deductibles. An increase from $500 to $1,000 could save you up to 25 percent on premium payments.* While you’ll take on more out-of-pocket expense should you have a broken window claim, you’ll be saving money over time.

Auto insurance. Carrying only liability coverage on older vehicles, especially those valued at less than $1,000, is a cost-saving option, as long as you maintain adequate liability and bodily injury coverage. Liability coverage protects you if someone is injured as a result of an accident for which you are at fault or for damage caused by your car to another person’s property. Uninsured/underinsured driver coverage is also important.  It protects you from bodily injury caused by drivers without adequate auto insurance. Passengers in your insured car are covered, and most household members are covered as pedestrians.

Home + auto = discount. Another great way to save some cash with your insurance coverage is to look into multiple policy discounts. Many insurers offer savings for insuring your home, auto and life insurance with the same provider. With a select few providers, you can protect your home, vehicles and other possessions conveniently and affordably — all in one policy, with one deductible should you have a claim. For example, if a storm damages your home, two cars, boat and garage, you pay only one deductible, not five separate deductibles. Discounts may be available for good driving records, good grades, multiple vehicles or having certain life insurance coverage with the same company.*^  These cost-saving ideas can help you reduce expenses while maintaining the protection you need.

*Insurance Information Institute, Maximize Your Insurance Dollars in 2010: Avoid Five Biggest Insurance Mistakes,, visited January 6, 2010. *^Some discounts or credits may not be available in all states.

Tips brought to you by Agent Scot Clark, Farm Bureau Financial Services. For more information about products and services, call Scot Clark 515-462-4774

Securities and services offered through FBL Marketing Services, LLC+, 5400 University Ave., West Des Moines, IA 50266, 877/860-2904, Member SIPC. Farm Bureau Property & Casualty Insurance Company+*, Western Agricultural Insurance Company+*, Farm Bureau Life Insurance Company+*/West Des Moines, IA. +Affiliates *Company providers of Farm Bureau Financial Services.

Information provided by Scot Clark, Farm Bureau Financial Services, 115 W. Court, Winterset, 462-4774,

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