Group Insurance Policies

I do a lot of reading and one thing I love to read about is saving money. Many times I  jump from different webpages, scanning the comments in posts to find out pros and cons on new ideas, such as making your own detergent for front-load washing machines.

Last week, I read about someone's spouse working for a large company and that they saved money by using the company's group car insurance policy. What?!? I never knew there was such a thing!

Our car insurance policy seems to keep creeping higher and higher, and we've been talking about how to reduce the costs. So I started pondering more on that comment I read and if it might work for where I work. I don't remember what sight I read it on, but the more I thought about it, the more I wondered, "Why not?"

There's group health insurance, so why not group car insurance? And, the more I thought about it, why not group homeowner's insurance? Think of the money you could save!

Since we don't have a suggestion box at work, I decided to approach our HR person and find out if our company would consider such a thing. After broaching the subject with him, he informed me that he would be meeting with the insurance person the very next day and would ask if they had a plan for it.

The more I think about this, the more it gets me excited for it! I mean, what an ingenius idea! Not only could you save money on your health, car and homeowner's insurance policies, but the overall costs would be divided into the total amount of paychecks for the year and deducted from them. This way, you would never have to worry about coming up with a large sum of money when each becomes due.

I'm sure there would be problems along with the ease of this. For instance, with a group policy, you'd have to have agreed amounts of deductibles and also on amounts of coverage. Hopefully, there would be at least a couple choices in each area for the individual employees to choose from. Also, with a large group policy, you'd only be able to sign up once a year or you'd have constant changes in the policy. But for a long-time employee, it may work to their advantage.

Even if we saved just $10.00 per month on each of the car insurance and homeowner's insurance policies, $10.00 x 12 months x 2 policies = $240.00. I don't know about you, but I could sure go for an extra $240.00 a year. But optimistically, I'm hoping that if my idea works, we'll save even more! Over all, I felt it was definitely worth looking into and I am hoping for the best.


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