Bosworth & Associates 1818 W SW Loop 323 Tyler, TX 75701

Tips for Lowering Your Insurance Premiums Without Sacrificing Coverage

March 4, 2024

An insurance premium is the amount you pay every month or year for your insurance coverage. Your premium rates are determined by numerous factors within your chosen insurance policy or policies.

As a long-time trusted local insurance provider in Tyler, Texas, Bosworth Insurance knows that it can be confusing to decide on which insurance is right for you—renter’s insurance, homeowner’s insurance, medical insurance, car insurance, etc. You also need to factor in the cost of insurance in relation to what is covered and find a way to balance what you need and what’s in your household budget to afford.

It’s important to find an insurance provider who isn’t just advertising low-cost insurance but is also a business you can trust.

Local insurance companies such as Bosworth & Associates give their customers honesty and transparency and will work with you to find the best coverage for your needs.

To help things along, here’s a list of tips for lowering your insurance premiums without sacrificing coverage:

Car or Truck Insurance

When it comes to lowering your premiums for your car insurance, there are many ways you and your family can apply for rate reductions. This can be especially helpful if you have a young person in your household who’s learning how to drive and causing the family’s vehicle insurance rates to go up. Encourage your young driver to maintain good grades, as many insurance providers offer a “good student” rate reduction.

Insurance companies also offer discounts on car insurance for things like:

· The type of car. Especially if you’re looking to buy a new car, research how much that vehicle costs to insure, and you might be able to save yourself some money every month. While you might be able to afford that fancy sports car, it’s a good idea to find out how much it will cost to insure.
· Do you have a good driving history? Insurance companies pay attention to your driving record and whether you have things like multiple moving violations or accidents and may offer you a discount on your policy if your record is clear.
· Most people need more than just vehicle insurance. Bundling your policies through one insurer can often make your premiums go down.

Home Insurance

One great way to lower your home insurance premiums is to make sure you have all your home information up to date so your insurer has an accurate estimate of your home and its contents.

If you have certain household safety measures in place, such as a smart security system, smoke alarms, or other protection devices and measures, you might be eligible for a rate reduction.

Credit Score

How’s your credit score looking these days? There are numerous reasons why having a good credit score can benefit you financially, and one of them is lowering insurance premiums. Many insurance providers offer their customers discounts for having a good credit score, and it’s always worth inquiring about.

How You Pay

Many insurers will offer a rate deduction if you opt into paperless billing options. You can choose to make a recurring payment from your bank or an online payment, for example. It’s also good, especially if you’re changing insurance companies, to ask if they have a membership rate or discount available.

Insurance Review

When was the last time you reviewed your insurance policy or policies to make sure you’re covered adequately or not paying for coverage that you don’t need? It’s a good idea to review your insurance policy annually or semi-annually and ensure you have everything you need and aren’t paying insurance premiums for coverage you no longer require.


Talk to your insurance provider about options you might have for higher deductibles. This option depends on your budget, but you can often lower your premiums if you pay a higher out-of-pocket amount. In this instance, make sure you’re able to afford the deductible if an emergency happens. If possible, it’s a good idea to have funds set aside, just in case.

New Policy

Are you in the market for a new insurance company? Shop around for insurance before you make a decision and compare rates and services. If possible, find a local, trusted insurance company that provides their clients with helpful service and transparent information about their policies, premiums, and deductibles.

A good insurance company will give you the best rates and advise you on what insurance is best for you and your family.

While it can be confusing trying to decide what types of insurance are best for your unique situation and what premiums you can afford, it doesn’t have to be.

Call your trusted local insurance company today and find out how you can start paying lower premiums.

Bosworth & Associates has been selected for the 19th year as a Best Practices agency.