Why you need to trade your costly insurance plan for an affordable insurance plan


As an individual or family man or woman, being safe and keeping your family members safe is an ultimate priority.

affordable insurance

To ensure safety, a whole lot of measures are put in place and a whole lot of actions are also taken. You could put up safety stickers, avoid leaving sharp objects in random places in your home, obey driving rules and regulations, unplug all electrical appliances before heading out, drive with your seat belt on, eat healthy, and more than a million others. All these are great, however, one can never really be too safe. Accidents still occur, people still fall sick, and fire outbreaks could start from the next house.

This is why there is insurance. Insurance has been put in place to offer a form of security that puts you right back in the position you were before an accident or damage occurred. Insurance covers almost anything – car, life, home, anything at all. So many providers exist and so many people have decent insurance plans. However, some of these insurance plans are really pricy. It could be as a result of the quality they offer or just a case of an individual picking too many coverage plans in one insurance plan. For example, while opting for health insurance, some people could go overboard and tick dental, eye, and a bunch of other things they do not need. At the end of the day, they end up with really costly premiums. These premiums then drain them yearly. There are many affordable insurance providers or simply affordable insurance plans that would do you better.

Here are just few reasons why you need to drop your costly insurance plan for an affordable insurance.

You do not need all the services

There are many ways to switch up from a pricy insurance to an affordable insurance plan. You can choose to opt for a cheaper insurance provider, however, that could mean compromising on quality. At the end of the day, it would not be worth it. The other way, is to retain your insurance provider but cut down on all the services. As mentioned earlier, there is always that tendency for people to go overboard while picking the services that they require from the insurance providers.

While it looks great while you are picking it, every service attracts more money. The challenge then is that you keep paying costly premiums even when you do not need them. Unless you happen to have a whole lot of money at your disposal, picking an additional service without any cogent reason, is a waste. If for any reason, you anticipate such services being required, you can retain it. Most times, however, you really do not need them all.

Default in Premium payment

This is just one of the most important reasons to make that switch now. The problem with having a costly insurance policy rather than an affordable insurance plan one is that you may, at some point not be able to continue paying. In which case, you would have wasted a whole lot of money. When you breach in your insurance payment and an accident or contingency occurs, you would not be covered. It is that simple.

So rather than work yourself up trying to live above your budget, you need to get an affordable insurance plan. There are so many that would be happy to have you on board and offer you similar services if not the same services. Defaulting in premium payment is never a good one.

You can be under a group/family plan

Usually so many organizations and associations offer group insurance coverage plans to their staff or members. Sometimes, even families can be signed up under a plan. So if for any reason you can have access to one of those group plans, why retain your costly insurance plan? This does not even require signing up for a new affordable insurance plan; you just have to stop using your individual plan. Group insurance plans are certainly great affordable insurance options. Since they take people in groups, it is essentially cheaper per head.

Even better is the fact that employee insurance plans usually have a form of employer contribution to it. If you do not have one from your company, but your mom or dad has a family coverage plan already, make the switch. It may cost you nothing. At the end of the day, you have insurance and also have more money in your pocket.

It is not financially sensible

There is no doubt that insurance is great. However, if you are spending 50% or 60% of your overall income on insurance, then you are undoubtedly with the wrong insurance provider! Depending on the level of your income, you need to know the level where you can logically bring out insurance without hurting your entire livelihood. Certain insurance providers may be really expensive. Asides the fact that they provide quality, some might just have high prices as a result of their position in the market.

So rather than live under the illusion of having a quality insurance provider, try out an affordable insurance plan that does not actually leave you broke at the end of the day. Also, you may need to draw up a cost-benefit analysis before tying yourself down with an insurance provider. If it does not work with your budget, move. You may come back if your income level rises.

You may be disappointed

The reason a few people believe that certain insurance providers are ‘scammers’ is that when they need to receive insurance claims, the insurance provides come up with excuses not to. There are many reasons that cause this to happen and fraud is the least occurring. One could be as a result of an individual’s failure to read through all the terms and conditions. It could also be as a result of breach of contract on your part. It could be a third party’s involvement that was not planned for, or it could be an act of negligence on your part.

Whatever the reason is, the bottom-line is that you could end up disappointed and at a big loss. So why hang on an expensive insurance provider anyway. Save yourself the shock by using an affordable insurance policy today.

Connect with us on Google+

Share this article

Recent posts

Popular categories

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recent Comments