When it comes to reducing debt, many people ignore the insurance line on their budget. They need insurance, so it becomes an untouchable expense with which they feel helplessly saddled. Look at your expenses towards insurance coverage, life insurance premium in your paycheck, auto insurance bills, home insurance receipts, etc. They add up to a huge number!
I am not asking for stopping your coverage. That’ll be suicide. Remember, I always say insurance is an important defense for your financial security. Insurance is required but, you can save money on your insurance coverage. You just need to know how. Here are three ways you can reduce your insurance debt with some simple financial “housekeeping.”