Consumer Tips Archives - The Franklin Shopper

Once drivers purchase an auto insurance policy, many simply let the policy renew each year. But with a little digging, drivers may be able to reduce their insurance costs considerably. According to the Insurance Information Institute in New York, consumers should ask themselves if they’re happy with the cost, service and coverage of their existing policies whenever it’s time to renew. If they are, they should stick with their existing policies. However, if customers feel things can be better, then it’s a perfect time to see what’s available. Many driver advocates advise shopping for a new policy every two or three years. When it comes time to switch car insurance companies, follow these steps and remember to avoid gaps in the coverage.

• Compare apples to apples. When shopping for new policies, consumers should compare the same features offered by various providers, including coverage types, deductibles and any limits. Keep a copy of your existing policy’s declarations page so that all quotes can be accurately compared to the existing policy.

• Research any cancellation fees. Before switching over, find out if there are any cancellation fees associated with an existing policy.

• Eliminate coverage gaps. Eliminate gaps in coverage by ensuring a new policy begins the moment the existing one ends. This prevents potential financial ruin should a driver get into an accident without any insurance during a gap period.

• Take note of any lifestyle changes. Be sure to list anything that can affect the cost of coverage, such as anti-theft devices on the vehicle, window etching or updated driving habits.

• Explore union or group affiliations. Drivers who are members of particular clubs, professional organizations or something similar may be eligible for special policies with certain providers. Make a list of any affiliations and contact the organizers to see if they have relationships with auto insurance providers. Law enforcement personnel or veterans may be eligible for certain discounts as well. Some insurance carriers only cover police officers or former military. It pays to look into these discounts.

• Consider small companies. Just because they don’t advertise as much as some of the more well-known providers does not mean small insurance companies are not capable of providing sufficient, affordable coverage. There are plenty of reputable small companies that offer excellent rates to drivers willing to exercise their due diligence.

• Check with the existing provider, too. Drivers can discuss their current rates and coverage with their existing insurance company, who may offer suggestions on reducing coverage or even offer lower prices in an effort to hang on to customers. Consider these possibilities before switching. Shopping around for a new automotive insurance policy may help customers cut rates and increase coverage.

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Although many people will not go to extremes when using coupons, when used wisely, such discounts can help save a good deal of money.

Coupons can help people, and parents in particular, save substantial amounts of money. While television shows have documented the efforts of people who take coupon usage to the extreme, many shoppers simply want to earn modest savings on their grocery bills, recognizing that saving a few dollars here or there can add up to significant savings over time.

But even if you have no desire to spend hours on end hunting down the best deals, there are some ways to make the best use of coupons without taking up much of your time.

Understand stores’ coupon policies
Begin by researching if stores you frequent have restrictions on coupon usage. Some stores will double the value of coupons and others will not. Stores may set limits on the number of coupons one register can process or how many coupons a particular shopper can use at one time. It may be possible to use two different coupons for the same item, provided one is a manufacturer’s coupon and the other is store-based. The more you know about the coupon policies at your favorite stores, the more likely you are to use those policies to your advantage.

Get Organized
Using coupons effectively requires some organization. Develop a system for categorizing coupons by type or expiration date, which should ensure you don’t miss out on discounts because you lost coupons of they have expired.

Subscribe to several newspapers and coupon websites
Newspapers and store circulars are still great resources for coupons, so subscribe to your local newspaper, which likely still includes inserts advertising the latest sales and coupons. You also can subscribe to coupon websites, many of which are free and deliver coupons to subscribers’ email inboxes on a daily or weekly basis.

Consider a coupon-clipping service
A coupon service will clip coupons for you and send them to you for a fee. This enables you to collect coupons from various regions where coupon values may be higher than where you live.

Join a store loyalty program
Those cards supermarkets and other stores scan at checkout do more than just track your purchases. They typically entitle members to discounts that other shoppers are not privy to. These discounts come off the bill automatically, saving you time and money. Furthermore, being part of a store loyalty program may entitle you to emails or other advertisements on special sales not open to the general public.

Learn how to stack coupons with store sales
Many blogs tell you which stores are running sales and how they compare to coupons in recent newspapers and circulars. This enables you to not only get the sale price on a particular item but also earn the coupon discount. This is a good way to save even more money.

Get to know the standard prices of products
The only way to know if a coupon is a good deal is to be familiar with the going rate of the products you buy on a regular basis. When visiting the grocery store, make a note of how much your favorite items cost at full price. This way you will know when a sale is truly a sale.

Be prepared to stock up
Some of the best deals to be had involve buy one get one free, deals which are often referred to as “BOGO” or “B1G1.” When such deals can be combined with a coupon, the savings are substantial. Set aside a rack or area of the home for stockpiling your BOGO purchases.

Don’t forget about paperless coupons.
Paperless coupons, or ecoupons, are often linked to store loyalty programs. Many ecoupon services require shoppers to sign up online and provide some basic information about themselves. When you go to check out at the store, you will swipe your customer card and any available ecoupons will automatically be deducted from your purchase. Ecoupons are usually redeemed at face value and cannot be doubled or shared.

Try competitors’ coupons, too
Some stores will honor coupons from their competition. If one supermarket is offering a particular BOGO deal, clip the coupon and bring it to your local store to see if they will match the discount.

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Tag: Consumer Tips

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