Optimizing Your Insurance Policies (Auto, Home/Renters, Umbrella, Life, Disability, Pet, and Travel)

All the Hacks with Chris Hutchins

Chris Hutchins

Business, Education, Investing, Society & Culture, Places & Travel, Self-improvement

4.7 • 1.4K Ratings

🗓️ 1 March 2023

⏱️ 68 minutes

🔗️ Recording | iTunes | RSS

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Summary

#104: In this episode, Chris covers all things insurance. He explains the process he went through to reduce the cost of his insurance policies as much as possible while still maintaining adequate coverage from a reputable carrier. He discusses auto, home, renters, umbrella, personal articles, life, disability, pet, and travel insurance. Chris also talks about the policies he has been concentrating on lately, and shares resources to help listeners save money. Full show notes: https://allthehacks.com/insurance-hacks Partner Deals MasterClass: Learn from the world's best with 15% off Pacaso: Free early access to listings and $2,500+ in closing credits DeleteMe: 20% off removing your personal info from the web Kubera: 14 day trial of the world's most modern wealth tracker for $1 Fabric: Affordable term life insurance for you and your family Gelt: Skip the waitlist on personalized tax guidance to maximize your wealth Selected Links From The Episode "Better" Insurers: USAA | Safeco | Amica | Travelers (discount for PenFed members) Premium Insurers: Pure | Chubb | Cincinnati | AIG | Nationwide Private Client | The Hartford Other Carriers Mentioned: NJM | Auto-Owners | Erie Insurance | Country Financial Products: Ring | Alarm Smoke and CO Listener | Alarm Flood & Freeze Sensor | Nest Protect smoke and CO alarm Articles on Term Life: The White Coat Investor | NerdWallet Laddering Life Insurance: Policygenius Article Term Life Companies: Fabric by Gerber Life | Term4Sale.com Disability Insurance: Guardian | MassMutual | Social Security Disability Insurance Travel Insurance: Trawick | Covac Global | WorldNomads All the Hacks Episodes Mentioned #66 Rental Cars: Saving Money, Avoiding Fees and All the Secret Tricks #35 Stacking Benjamins and Modern Money Management #98 Buy Back Your Time: Get Unstuck, Increase Productivity and Live the Life You Want All the Hacks Newsletters Mentioned Hidden Credit Card Benefits Insurance Hacks Part 1 (Home/Auto/Liability/Pet) Insurance Hacks Part 2 (Life, Disability and Travel) Full Show Notes Introduction to insurance episode (00:00) Shop for insurance to save money (02:21) You get what you pay for: Understand your coverage (03:42) Auto insurance (05:07) Liability (05:46) Comprehensive coverage (06:51) Collision (07:03) Medical payments (07:31) Adequate auto insurance coverage (07:48) Insurance rates (10:42) Tracking mileage (13:23) Other ways to save on auto insurance (14:32) RIdeshare, rental car, & tow coverage (16:14) Car replacement assistance (17:22) Coverage on repairs and replacements (18:18) Differences between carriers (19:15) Non-owner liability policy (20:22) Homeowners insurance (24:00) Renters insurance (24:35) Coverage lettered labels (24:58) Extended reconstruction coverage (26:35) HIgh-value carriers (28:56) Loss of use coverage (30:01) Extra policies to consider (31:12) Ways to save on homeowners insurance (32:33) Comparison shopping hacks (35:34) High-value items (37:41) Additional liability coverage (38:20) Deciding & evaluating carriers (43:34) Bundling (48:29) Life insurance (52:42) Pet insurance (57:50) Disability insurance (59:59) Travel insurance (1:02:51) Final insurance tips (1:05:40)

Transcript

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0:00.0	Hello, and welcome to another episode of All the Hacks, a show about upgrading your
0:06.1	life, money, and travel.
0:08.0	I'm your host Chris Hutchins, and today I want to do a deep dive on insurance.
0:12.6	I've thought a lot about insurance and even written a few newsletters, but after going
0:16.4	through the process to redo most of our policies the last few weeks, I thought now would be
0:20.2	the perfect time for this episode.
0:21.8	So, I'm going to cover how I ran a process to save as much as possible on our insurance,
0:27.0	while I was still making sure I had good coverage.
0:29.6	I'm going to talk about the policies I've been focusing on recently, which include
0:33.1	home, auto, umbrella, and personal articles, but I'm also going to cover renters, life,
0:38.1	disability, long-term care, pet, and even travel insurance.
0:42.7	Consider this episode a one-stop shop for me to share the learnings from hundreds of
0:46.7	hours of conversations and research.
0:49.3	And I really hope you enjoy it, but more importantly, I hope it helps you save money and get
0:54.1	the right coverages.
0:55.8	I should remind you all that I am not an insurance professional and all my research was mostly
1:00.0	done for California, which may be different than your state, so please do your own research
1:05.0	as well.
1:06.4	But let's get into it right after this.
1:09.2	I want to talk about an amazing way to level up your finances with some practical knowledge
1:14.5	on money.
1:15.5	I'm talking about Nerdwallets Smart Money Podcast, where every week, Nerdwallets in-house
	...

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