September 19, 2023

Financial inefficiencies cause losses in wealth that the public is unaware of. If you want to save money with your car insurance, simply raise your deductible and the premium will go down. 

Most insurance agents will guide you to raise your premium and lower your deductible, but the fact remains that most people will not file a claim lower than $1,000 because they are worried that their premiums will go up but will carry a $500 or $250 deductible anyway. If you raise your deductible to $1,000 and underwrite your loss yourself, your premium will go down. 

Why don’t agents explain this to customers? They are more and more as the economy gets tighter and people have less money to spend for protection but they are unaware of what’s inefficient and what’s not. Most agents are focused on selling products and making commissions and are unaware of the side effects of selling a low deductible high commission product.

Most people don’t file a claim under $250 or $500 at least, and many will underwrite their own claims up to $1,000 or more, simply because they don’t run the risk of having their insurance go up. When you raise your deductible to over $1,000 the premium goes down allowing that efficiency to be used to pay for something else or go toward savings.

Many people know this and understand how they can smooth out this particular inefficiency. But, just as this is a known strategy there are many other ones that save equally or more money. Our Macro Economic Model uncovers these and puts the savings to growth. Most financial people don’t understand how to do this because they are simply product pushers and not process-driven.

When large sums of money are at stake models are built except in finance. Shipbuilders will build models of ships before they spend the money to build the actual ship because they are looking for the inefficiencies to correct before they build the ship. Bridge builders the same way as well as building tall skyscrapers. The reason is when large sums of money are at stake models are built so the building, bridge, or Ship doesn’t crumble or sink. Your financial world is no different, that’s why we build a model of everything in your financial world, no matter how large or small your financial picture is, then look for the inefficacies and put them to growth.

Thanks for reading!

About the Author Raymond Jewell

For over 40 years, Dr. Jewell has helped thousands of clients keep more of their hard earned money using his macro economic model.

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