It Pays to Shop, Even in a Pandemic!

Updated: Apr 26

Unfortunately many Americans are experiencing a time of job loss or job uncertainty - know that you are not alone! 


Where are we looking to save? Maybe we will look to cut back on the 8 streaming services we pay for monthly? Cancel unnecessary memberships or subscriptions? Cook and dine in as opposed to ordering out? Not buy that new set of golf clubs!


Most consumers are unaware that, on average, insurance premiums can range from 4-6% of monthly household expenses (those of you with young drivers know that % is likely low!). Most home insurance cost is baked into the mortgage and auto insurance is typically set up on monthly auto draft. Out of sight and out of mind, right?


We may be asking ourselves:

- Can I give up my insurance or put it on hold?

- Can I reduce coverage limits to reduce cost?

- How is my insurance carrier able to help me now without it costing me in the long run?


A lot of the time, not just with insurance, we are paying and over paying, for things in life that we do not need or may not use at all. Now is a great time to take a comprehensive look at the household expenses and see where money can be saved or repurposed more effectively. 


This environment will not last forever but now is a time to be proactive! For a second, let's think how good it will feel to enter into a post-Covid world knowing we did our financial 'Spring Cleaning'!


HOW you may ask:  Simply refresh your emails to see if your current insurance agent has touched base with you to do a review. If not, pull your declarations pages and take the hour or so to shop the policies yourself. Start with looking to bundle your policies in one carrier to maximize multi-policy discounts, be certain Good Student discounts are added to policies with children, revisit your deductible options, remove cars or drivers that are not longer in the household, shop other competitive carrier options. Remember, it pays to shop!



Quick Bio: Tim Fox is a licensed insurance broker for Carnegie Home and Auto, a Property and Casualty insurance brokerage based out of Wayne, Pa. By way of Carnegie Home and Auto, Tim is appointed with 15+ (A and above rated) insurance carriers specializing in all residential risk types with capabilities to commercial exposure.. He is licensed and has policy writing capabilities in PA, NJ, NC, SC and FL. Tim spent 5 years at Lincoln Financial Distributors assisting financial advisors place their valued clients into suitable retirement solutions. From there, Tim took on the opportunity to build out the P&C insurance brokerage at Carnegie Home and Auto. Tim and his organization have the privilege of working with some of the top real estate professionals and their valued buyers in their respective states. Tim lives with his wife Cara and their 5 month old son, Cooper in Malvern, Pa. He is an alum of Devon Preparatory school in Devon Pa as well as Temple University in Phila, Pa.

Post was written by Tim Fox for more information please contact Tim directly. Tim.Fox@CarnehieHA.com 610-529-1799 www.carnegieha.com


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