How I Saved Money on my Car and Homeowner’s Insurance

The other day I received a renewal notice for my homeowners insurance and guess what?  It went up by $110 dollars!  Needless to say, I was not happy at that so I immediately called the insurance company and asked why.  Their response really wasn’t a response at all or shall I say; it was a cop out response at best. The customer service agent told me that claims,  in my state had risen over 100% in the last year and as a result that $110 increase was my share of the burden….then he said, “that’s how insurance works”.

I was not amused.  🙁

The increase only resulted in a hike of about $9/month on my mortgage. I guess when you look at the big picture, it’s not that bad….it’s the principle…the goal is to save money not shell out more, however, some things are beyond our control.

Luckily the customer service agent suggested that I get an auto insurance quote through them which could result in lower homeowner’s insurance.  This is called bundling policies.  So basically, instead of my homeowner’s insurance going up $110, it would only go up $35…that’s a savings of $75.   I didn’t know if it would work but it was worth a try.

Well to my surprise…it did work!  Not only did I save $75 dollars on my homeowner’s insurance, but my car insurance went down by $25/month!  That’s unbelievable.  All this time, I could have saved a ton on car insurance (I sound like a commercial) by switching and bundling.  In a year’s time I will save a whopping $300 dollars in car insurance which will more than cover that $35 hike in homeowner’s insurance.

So take a lesson from me….bundle your policies (car, mortgage and life, etc.) with one company, or at least do the numbers by getting a quote to see where you stand and then make an informed decision.

Unfortunately, I’d been lazy and never thought about bundling my insurance policies.  Now, I’m thinking of switching my life insurance to this same company or at least getting a quote just to see if I can save more money.  Every little bit helps…right?

Here are some tips to go by when bundling policies:

Continue reading How I Saved Money on my Car and Homeowner’s Insurance

Emergency Fund: Having one is Essential

“OMG, it’s seems like everything is breaking down all at once!”  This is the very statement I made to myself the other day when I had to shell out $400 dollars for an unexpected car repair.

It seemed like only yesterday I had just replaced the lid switch on my washing machine.

Normally this would have caused me undue stress, but fortunately this was just a temporary inconvenience that was resolved rather quickly.

Why?  Because I had a nice, well-funded, Emergency Fund in place.

It’s nice to sleep at night knowing that I have a stash set aside for unexpected expenses.

What one would consider an emergency is purely subjective. I think a good way to gage whether something is an emergency is to evaluate whether it is an unexpected expense with unexpected being the key word here.

For example, I wouldn’t use an emergency fund to pay for a set of new tires for my car.  That would be considered an expected expense. However, I would use an emergency fund to replace a tire that might have blown out all of a sudden.

How much should you save? Continue reading Emergency Fund: Having one is Essential

Welcome to My Take on Money

Welcome!

Thanks for stopping by My take on Money.

My name is Alunda and I love personal finance.  I’m a single female residing in Atlanta.

My Take on Money is a personal finance blog about  “my” perspective on money. Yep you read that right.   I will post articles related to personal finance from my own view of money.  When you think about it, everyone has some type of relationship with money, whether it be good or bad.

Because this blog is related to personal finance from my own perspective.  I will open up and share with you some of my own personal experiences with money and how I’ve developed and continue  to keep a healthy relationship with it on a daily basis. My ultimate goal is to show you  how to earn it and  how to keep it.

In addition, I hope this blog will encourage you to open up and share your personal view and relationship with money so that we can learn from any mistakes or successes you might have had.  I love to share, so this should be really fun.

Please feel free to comment on anything, I’d love to hear from you.

Thanks for stopping by.

"One Women's Perspective on Money, Life and Everything Else….."