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.
Forget the Land
If you're a homeowner, don't include the value of the land in deciding how much insurance to get. Unless you have a rosebush that has highly sentimental value, it's probably not worth the extra money.
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 prediict filing lots of cliams, consider increasing it. Raising your deductibe 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 you health and can save you money on your homeowners'/renters' insurance.
Lose the Jalopy
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 repair it, reduce or eliminate you collision coverage.
Look for Discounts
Ask for discounts on anti-lock brakes, air bags, a good driving record and for defensive driving certification. You can save anywhere from $800-$1300 on yout policy.
Get Your Money's Worth
Most homeowners' and renters' 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.
Look for Policies with No-Commission
Skip the agent's commission and find a "fee only" financial advisor who will charge a flat rate for his work, not the amount of the policy that he sells you.
-- Laura Gilbert
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