Month: June 2009

Considering Reducing Insurance? Consult an Expert!

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In today’s economy, many people are re-evaluating their expenses to make sure they’re getting the most for their money. Insurance is no exception. The A.P’s Ieva Augstum’s article in today’s Sunday Telegram outlines the decisions some Americans are being forced to make, and the resulting consequences.

Information is Cheap
Some insurance sites make it tempting and easy to see how much money you can save by reducing coverage that you may think you don’t need. But information without advice can give the false appearance of value.

The Value of Advice
Insurance is a complicated business. There’s a reason why agents must pass a rigorous licensing exam to sell to the public, meet continuing education requirements to keep their license, and why agents who’ve already passed the exam study for many more years to earn designations like CPCU or CIC.


At Noyes Hall & Allen, we understand that the most workable insurance is the one you can afford. If you must cut costs, our agents can help you compare the risks you’ll assume with the premium savings. Then, you can customize your decision to your individual situation.


Easy Money

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Everyone’s looking to tighten up their budget these days. Many people prefer to  spread the cost of their insurance throughout the year by paying in monthly installments. But insurance companies charge an “installment charge” to cover the expense of sending those monthly bills, and to replace investment income they forgo by not collecting your premium up-front. The average “installment charge” is $5.00 per bill. That means if you pay your Maine auto insurance in monthly installments, you’re paying $50.00 or $60.00 extra a year.

Quick and Painless Savings

Instead of having the insurance company send you a bill, sign up for Electronic Funds Transfer (EFT) – automatic monthly withdrawal of your premium payments from your checking account. Most companies waive the installment charges completely for EFT customers. That saves you an extra $60.00, plus the cost of stamps, checks, and the time it takes to pay the bill.

Clients of our Maine insurance agency who are snowbirds or travel frequently love EFT. They don’t have to worry about bills being forwarded, or accumulating unpaid while they’re away.

One added benefit of EFT: no more risking cancellation notices by forgetting to pay your bill. Because your payments are automatically withdrawn, they arrive on time every month, without any action on your part.

For more information about insurance discounts, contact Noyes Hall & Allen Insurance at 207-799-5541.