Marry Your Policies
The average couple saves up to 20 percent when they merge car insurance policies -- and an average of 10 percent if you bundle your car insurance with the company that handles your home or renters insurance.
Raise Your Deductible
A deductible is the amount that you must pay out of your own pocket before the insurance company forks over a dime. But unless you predict filing lots of claims, consider increasing it. Raising your deductible to $500 can save up to 12 percent on your premiums; $1,000 can save up to 24 percent.
Butt Out
Yet another reason to quit smoking. It accounts for more than 23,000 residential fires each year. Kicking the bad habit is good for your health and can save you money on your homeowners/renters insurance.
Cancel Your Collision
As cars age, the cost of repairing them rises because parts become harder to find -- meaning you may pay more for collision insurance on a clunker than on a new car. If it’s cheaper to replace your car than to repair it, reduce or eliminate your collision coverage.
Ask for discounts on anti-lock brakes, air bags, for good driving records, and for defensive driving certification. You can save anywhere from $800-1,300 on your policy.
Get Your Money’s Worth
Most homeowners and renters insurance policies cover your personal property even when you’re not at home, like if your wallet gets stolen from the mall or you lose something at the gym. Also, some policies now include special coverage for identity theft, so ask your insurance company if one is available.
-- Laura Gilbert
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