Insurance Service Resource

International Travel Insurance

2006-11-22T09:27:00.000-08:00

If you're travelling within the UK you probably don't need insurance, but if you're travelling abroad then international travel insurance is a good idea. It covers you for everything from delays and cancellations to more serious things such as hijacking, kidnapping and muggings, and while even the most unlucky traveller isn't likely to need such cover you're also protected against more likely occurrences such as losing your passport.

When you're buying international travel insurance the premium will depend on where you're going. Most insurers split the world into several parts: Europe, which normally includes the Canary Islands and non-European Mediterranean countries; the US and Canada; Australia and New Zealand; and the rest of the world.

One thing to watch with international travel insurance policies is that some insurers won't cover certain countries at all: for example, at the moment you'll find it difficult to get cover for the Middle East, so that budget holiday in Baghdad is probably a bad idea.

Getting internation travel insurance is simple enough: simply head for the site of an insurer, from cheap firms such as Insure & Go to more established names such as Direct Line. Enter a few details, tell the site where you're planning to go, and the site will tell you how much your premium will cost.

Annual Travel Insurance

2006-11-22T08:52:00.000-08:00

Many people travel once a year, usually on package holidays – but these days the combination of cheap flights and busy lives mean that more and more people take a number of short breaks throughout the year. If that sounds like you, then annual travel insurance could save you a fortune.

For single travellers, annual travel insurance is likely to set you back four times the cost of cover for a single trip, so if you do a lot of travelling you'll save an awful lot of money by opting for annual travel insurance instead of several single-trip policies. It's a time-saver too: because you're covered all year round, you don't need to arrange insurance every time you travel.

Annual travel insurance is particularly handy if you've got a family: for example, Nationwide covers children to the age of 23 provided they still live at home and study full-time. You'll often find that your annual travel insurance policy covers your kids if they travel without you – although not all policies do this, so it's important to read the terms and conditions carefully.

If you only take one foreign trip per year then annual travel insurance is a waste of money, but if you travel more frequently it could save you a fortune.

Insurance Advice for every Engaged Couples

2006-11-21T06:10:00.000-08:00

In Sickness and Health
Health insurance generally costs less for married couples than for two separate individuals. If both are covered by employer-sponsored health insurance, it may make sense to integrate health plans. Couples should determine which of the two plans is more attractive and obtain coverage under that plan. If one spouse is uninsured, the other can add him/her to the existing policy.

When comparing policies, they should consider the monthly premium, deductibles, co-payments for routine and emergency care, the doctors and hospitals that participate in each plan (e.g., if it's a Health Maintenance Organization or Preferred Provider Organization), and any additional coverage provided (e.g., dental, vision care, prescription drugs, etc.).

Unmarried couples may have a more difficult time getting coverage if one companion is uninsured because employer-sponsored health plans don't always offer domestic partner coverage. For plans that do offer this coverage, the value of the coverage provided to the partner is taxable as income for the employee and may not provide suitable benefits for the couple. Individual policies may be a more appropriate option, and in many cases, the only option.

'Til Death Do Us Part
Life insurance is not a topic most people like to talk about, but it is a serious consideration for couples that have promised to spend their lives together. The right policy can help protect family members from losing an income stream, or missing mortgage or tuition payments. To make sure either spouse could carry on financially after the death of the other, both should consider an appropriate amount of life insurance.

If either spouse owns an existing life insurance policy, he/she should review both the beneficiary designation and the adequacy of his/her coverage. They may want to name their spouse as beneficiary and, depending on their situation, may need more coverage than when they were single.

There's No Place Like Home
For newlyweds, both spouses' property is automatically covered under the typical homeowners policy. This is not necessarily true for unmarried couples, however, so they should consult with their agent or carrier to determine if coverage can be extended to both partners. Policyholders should clarify these matters so there isn't any question.

If renting an apartment, couples end up with twice as many possessions under one roof. Renters insurance provides coverage similar to homeowners insurance, protecting their possessions and offering liability protection.

Getting married is a major event in a person's life - the kind of milestone that marks a change in their responsibilities. Reexamining insurance needs before the ceremony is over will help couples be sure they can live happily ever after.

All You Need to Know About Health Insurance

2006-11-21T05:56:00.000-08:00

What types of health insurance are available?

Health insurance plans generally fall into one of two categories: indemnity plans (also known as reimbursement plans) and managed care plans such as health maintenance organizations (HMOs), preferred provider organizations (PPOs), and point of service (POS) plans.
An indemnity plan allows you to choose your own doctors and pays for your medical expenses--totally, in part, or up to a specified amount per day for a specified number of days.
Managed care plans generally provide broader coverage, but they all involve an arrangement between the insurer and a selected network of health-care providers (doctors, hospitals, etc.). For example, an HMO will require that a primary care physician in the network coordinate all of your care and refer you to specialists in the network.

What should be covered?

A good health insurance policy contains several types of coverage.
Hospital expense insurance pays your room, board, and incidental services costs if you're hospitalized.
Surgical expense insurance covers surgeons' fees and related costs associated with surgery.
Physicians' expense insurance pays for visits to a doctor's office or for a doctor's hospital visits.
Major medical insurance offers extremely broad coverage with a very high maximum benefit that's designed to protect you against losses from catastrophic illness or injury.

What might be covered?
When comparing health insurance plans, check to see if they provide additional benefits that you may need, including:

Prescription drugs
Preventive care
Mental health benefits
Maternity care
Vision care

What will it cost?
In addition to the monthly premium expense, you may have other out-of-pocket costs. These costs can really add up, especially if you have children or other family members who visit the doctor frequently. Check to see if the health insurance plan you're considering requires you to pay any or all of the following:

Co-payment: The amount you'll have to pay each time you visit a health insurance provider (generally required by HMOs).
Deductible: The amount you'll have to pay toward your medical expenses (usually annually) before the insurance company begins to pay claims (generally required by indemnity plans).
Coinsurance: The percentage of your medical costs you'll have to pay after you reach any deductibles that apply.

Where can I get health insurance?
You may get health insurance through a group plan at work or through another group affiliation (a school, a club, etc.) or by purchasing an individual plan on your own. By purchasing an individual plan on your own, you may even be able to customize the health plan. Shop online to compare rates from several companies to find the best plan and rate to meet your needs.

How do I decide which plan is best?
The best health insurance plan for you is the one that gives you the greatest flexibility and the most benefits for the lowest cost. Unfortunately, there's no such thing as a standard health insurance plan. As you would when making any major purchase, you'll need to shop around and get several quotes before choosing a plan. Here are a few points to consider:

What co-pays, deductibles, and coinsurance requirements apply?
How much freedom do you have to choose your own health-care providers?
Does the plan cover the health services that you need?
Does the plan cover the health-care providers you're currently using?
Does the plan offer family, as well as individual, coverage?
Does the plan cover pre-existing conditions? If so, is there a waiting period? (The average waiting period is three months to one year.)
Does the insurance company have a good reputation in the industry and a positive rating from a major ratings organization? (Contact your state's department of insurance for more information.)

Top 10 Ways to Cut Your Medical Bills

2006-11-21T05:51:00.000-08:00

With health-care costs on the rise, you may be looking for ways to lower your medical expenses. Here are 10 ideas:

1) Practice prevention
As basic as it sounds, one of the most effective ways to lower your medical expenses over time is to maintain a healthy lifestyle. For example, you can:

Take advantage of wellness programs
Maintain a healthy weight
Exercise regularly
Kick unhealthy habits (e.g. smoking)
Have regular checkups

2) Shop around for health insurance
If you don't have employer-sponsored health insurance, you may be looking to obtain coverage on your own. To get good coverage at an affordable price, shop around. Because premiums vary widely, you'll probably save money if you get quotes from several companies. Evaluate each plan's coverage and features, taking into account exclusions, limitations, and the freedom to choose health-care providers, among other things. Also find out how much you'll end up paying out of pocket in the form of co-payments, coinsurance, and deductibles, because even relatively small amounts of money can really add up if you make frequent visits to your doctor.

3) Cut the cost of prescription drugs
Prescription costs can eat up a large portion of your budget if you take prescription drugs regularly. Fortunately, it's not hard to find ways to save money. For example, try ordering your prescriptions through the mail, using a traditional or online pharmacy. If you belong to a prescription drug plan (e.g. through your health insurance), you may be able to get a three-month supply of your prescription drug through the mail for the same price you would pay for a one-month supply at your neighborhood pharmacy. You can also ask your pharmacist or doctor to recommend a less-expensive generic drug whenever possible.

4) Check your medical bills
Medical bills are often confusing to read. However, taking a few minutes to go over the charges may save you money in the long run. Check to make sure that the bill accurately reflects the procedures you have undergone and takes into account any applicable insurance coverage you may have. Some errors, such as wrong computer codes, are common, and you may be billed for health care you never received. Contact the appropriate billing office if you think you've found a mistake. If you've received an explanation of benefits from your insurance company that you believe is wrong, ask the company to review your claim.

5) Join your spouse's health plan
Many married couples maintain separate health insurance coverage even though it may not be cost effective to do so. Examine both your coverage and your spouse's coverage to see if it makes sense for either of you to join the other's plan. Keep in mind that most plans allow you to add a spouse to your plan within a certain time period after you get married (e.g. 30 days). Otherwise, you may have to wait for the plans' annual open enrollment period.

6) Keep track of your medical expenses
Come tax time, you may be able to deduct certain medical expenses if you itemize, and your total medical expenses exceed 7.5 percent of your adjusted gross income. Allowable medical expenses include everything from health-care services to medical aids (e.g. eyeglasses, hearing aids). Keep track of these expenses if there's a chance you'll be able to deduct them on your income tax return.

7) Negotiate a discount with your health-care provider
Many people don't realize that you can sometimes negotiate to lower your medical bills. While it may not always work, it doesn't hurt to ask your doctor, hospital, or pharmacy if they're willing to come down in price. Before you begin to negotiate, do a little research to find out what other health-care providers in your area are charging. You can also ask your health-care provider if they'll lower their price if you pay in cash up front.

8) Contribute to a flexible spending account
Your employer may offer a flexible spending plan that allows you to put pretax dollars in an account. You are then reimbursed for your out-of-pocket medical expenses, such as prescription drugs, dental care, and co-payments. Because flexible spending contributions are taken out of your pay before federal and state taxes are calculated, you get to use pretax dollars to pay your medical bills.

9) Take advantage of free health screenings
If your health insurance doesn't provide adequate coverage in some areas, or if you don't have any health insurance coverage at all, you may want to look into free health screenings. Local clinics and hospitals often provide a variety of screenings, such as blood pressure, cholesterol, and mammograms.

10) Get to know your health insurance
Your health insurance may cover more than you think. Nowadays, insurance companies often provide benefits designed to help you stay safe and healthy. For example, you may receive discounts on vitamins, alternative medicines, health club memberships, or bike helmets. You may also be surprised at the range of coverage your health plan offers. For instance, it may cover dental care for young children, chiropractic care, and acupuncture. Read your plan membership materials to find out what products and services are available through your health plan before you pay for them on your own.

Protect Yourself When Renting Your Home

2006-11-20T12:36:00.001-08:00

You absolutely have insurance issues to consider when renting out your home. As you might have guessed, rental property owners have some unique insurance needs. A standard homeowners policy isn't appropriate for rental property, because:

(1) you don't need to insure the contents of the house, unless you provide furnished accommodations;
(2) you need to be more concerned about liability issues; and
(3) you need to protect yourself against the loss of rental income. Your tenants may purchase renters insurance, but even if they do, it won't provide any coverage for you as the owner of the property.

Fortunately, there's a policy designed especially to meet the needs of rental property owners. Most insurers who deal in commercial insurance can sell you a policy specifically for rental property. However, there are many variations among rental property policies. Some provide replacement cost coverage, while others only insure property on an actual cash value basis. Some policies only provide coverage for one or two named perils (such as fire), while others provide much broader coverage. Because of these variations, you may have to shop around to find a policy that provides complete coverage. A good rental property policy should provide the following:

Broad coverage for the physical structure of the house, on a named-peril or open-peril basis
Coverage for other structures located on the property (garages, sheds, etc.)--this coverage is often limited to 10 percent of the coverage for the house
Coverage for your property left on the premises (appliances, maintenance equipment, etc.)
Coverage for loss of use, if you lose rental income as a result of a covered peril
Liability coverage for injuries or property damage that occur on the insured property
Medical payments coverage, for medical expenses that arise from injuries to others on the insured property

New Homeowner Insurance Basics

2006-11-20T11:12:00.000-08:00

The lowest mortgage rates in more than three decades have fueled America's appetite for home buying and refinancing, driving new home sales to a record level . Buying a home can be an intimidating process, especially for first-time homeowners who may feel overwhelmed by the number of decisions they are faced with, including choosing the right insurance coverage to protect their property. Find out what you need to know to protect one of their most important assets.

A home is often a person's largest asset and protecting it properly can be complicated. The unexpected can threaten people's homes or possessions and compromise them financially, making homeowners insurance an important consideration.

Insurance.com developed the following guidelines to ease the process of choosing the right insurance for new homebuyers.

First-time homebuyers may not realize that homeowners insurance covers more than just the structure of a house. It also protects the homeowner and generally anyone named on the policy, including a spouse, resident, household employee, guest or visitor. Most policies offer three kinds of protection:

1. Structures - A homeowners policy protects a person's dwelling for damage due to common threats like fire and smoke, lightning, theft and extreme weather. Unless it is listed among a policy's exclusions, anything that causes loss to a homeowner or his property is covered. To cover the exclusions, homeowners can often pay to add endorsements to their policy, although some exclusions, such as flood damage, may require the purchase of a separate policy.

Coverage Amounts - When choosing coverage amounts, people should remember they are protecting the entire home, not simply the amount remaining on the mortgage or their equity in the building.

2. Personal Property - Family possessions and personal property also are covered by homeowners insurance. In most cases, a policyholder will be reimbursed for damage or theft of personal property, whether the loss occurs on the protected premises or elsewhere. Recalling each item in every room can be difficult, however, so policyholders are encouraged to make an inventory of their belongings - recording the serial numbers, as well as the dates and costs of purchases for possessions such as jewelry, artwork, furniture and appliances. Personal inventories should always be stored in a fireproof safe or away from the premises, such as on videotape or a computer that is not in the house.

Coverage Amounts - Typically, the insurer sets the total value of possessions at half of what the home is insured for. But there are limits for certain items and the amount may not be sufficient to cover the replacement of property, so homeowners may want to purchase additional coverage for their possessions. Review of a homeowner's personal inventory is the best way to determine whether his coverage is sufficient.

3. Liability - Homeowners insurance also provides compensation for liability claims and medical expenses, as well as other claims that result from property damage and personal injury suffered by others. This coverage applies whether an accident occurs on the policyholder's property or while away from home.

Coverage Amounts - The standard amount of liability coverage is $100,000 on a typical homeowners policy. If a homeowner feels that the standard amount may be insufficient, he should consult an insurance professional about the availability of a higher level of coverage.

After establishing a policy, homeowners should periodically review their existing coverage to make sure that it keeps pace with any major purchases or improvements they make to their homes. Securing the right insurance policy at the right price is an important step in the home buying process, so homebuyers should shop around for a policy that best suits their needs and protects their most valuable asset appropriately.

Top 10 Most Dangerous Jobs

2006-11-20T06:15:00.002-08:00

Do you work in a dangerous occupation? According to the Bureau of Labor Statistics, the top 10 most dangerous jobs are:

1. Timber cutters
2. Airplane pilots
3. Construction laborers
4. Truck drivers
5. Farm occupations
6. Groundskeepers
7. Laborers
8. Police and detectives
9. Carpenters
10. Sales occupations

Do you have the life insurance protection you need?
It's a fact that some occupations are riskier than others. But no matter what you do for a living, take a look at your life insurance needs. Life insurance can help you financially protect your loved ones after you die. If you're single, and no one is depending upon your income for support, you probably don't need life insurance. But if any of the following is true, consider buying life insurance:

You're married and your spouse depends on your income
You have children
You have an aging parent or disabled relative who depends on your income
Your retirement savings, pension, or other cash accounts won't adequately support your loved ones after you die
You have a large estate and expect to owe estate taxes
You own a business

Calculators and worksheets are available online to help you determine how much life insurance you need. You may want to contact an insurance agent or broker who can help you determine what type of life insurance is best for you and the amount of coverage you need.

Do you have the disability insurance you need?
If you work in a high-risk occupation, you probably know how important it is to have disability insurance coverage. But don't rely on government programs such as Social Security and workers' compensation as your main source of protection. In reality, government programs pay only limited benefits under restrictive terms (e.g. you must meet a strict definition of disability to qualify).

Your employer may offer group disability insurance at low or no cost to you. But you may also want to consider purchasing an individual disability insurance policy. Although you'll pay more for individual coverage than for a group policy, you often get more benefits. And keep in mind that if you leave your job or otherwise terminate your relationship with a group, you can't take your disability policy with you, and you usually can't convert it to an individual disability policy. This means that you may be left without disability coverage when you need it most.

Shop around for coverage
Since many different types of life and disability policies are available, it's important to shop around for coverage to find a life insurance policythat meets your individual needs. Since premium costs vary widely, get quotes from several insurance companies. Just make sure you're comparing policies that offer similar benefits.

Top 10 Things to Know About Life Insurance

2006-11-20T06:02:00.000-08:00

We all recognize the importance of life insurance. After all, we want to make sure that our loved ones are taken care of when we die. But before you run out and purchase a policy, do some research ahead of time. That way, you'll be sure to get the best possible coverage at the right price. Here are some helpful tips to get you started:

1. Shop around
When it comes to life insurance, it pays to shop around because premiums can vary widely. And thanks to the Internet, it's now easier than ever. Try out one of the many insurance websites that can provide you with instant quotes. Make sure the website you shop from takes into consideration the factors in your medical history that can affect the premiums.

2. Never buy more coverage than you need
The key to purchasing the right amount of life insurance is to have just enough coverage to meet your needs. If you have more life insurance than you need, you'll be paying unnecessarily for higher premiums. On the other hand, it's important not to have too little coverage, resulting in you being underinsured.

3. The healthier you are, the better the rates
It's true – healthy people get better rates on life insurance. You will be asked to pay a higher rate for anything that shortens your life expectancy (e.g., if you smoke, take medications regularly, are overweight, have a bad driving record).

4. Buy sooner rather than later
If you've been putting off purchasing life insurance because you don't want to pay the premiums, you may be doing yourself a disservice in the long run. The younger you are when you purchase life insurance, the lower your premiums will be.

5. Realize the importance of periodically reviewing your coverage
Realize the importance of periodically reviewing your coverage
Any life change signals the need for a review of your overall financial plan. When it comes to life insurance coverage, you'll want to make sure that this major life event (e.g., birth of a child, children are grown) won't leave you underinsured or overinsured.

6. You don't necessarily have to pay a commission
You don't necessarily have to pay a commission
One of the reasons for higher premiums is that most life insurance policies pay commissions to the agent/broker. However, you may be able to purchase a no-load policy through an insurer that sells no-load policies directly to consumers.

7. You may be paying more for monthly premium payments
You may be paying more for monthly premium payments
You may not realize it, but you may be paying more for your life insurance if you pay your premium in monthly installments. Many insurance companies charge extra fees if you make monthly premium payments instead of paying the annual premium.

8. Don't rely solely on the life insurance offered by your employer
Don't rely solely on the life insurance offered by your employer
Many employers offer their employees some sort of group life insurance. But this amount of coverage is usually not enough to adequately meet your life insurance needs. In addition, group life insurance policies are not portable, meaning that if you leave your job, you can't take your life insurance coverage with you.

9. Tell the whole truth and nothing but the truth
Tell the whole truth and nothing but the truth
If you're thinking about lying on your insurance application, think again. If your insurance company finds out that you lied about a health-related condition or your lifestyle (e.g., smoking habit), they may be able to terminate your coverage.

10. Buying more is sometimes cheaper
Buying more is sometimes cheaper
Life insurance usually costs less per thousand dollars once you get into higher coverage amounts (e.g., $250,000). If the numbers work out, you may be able to pay a lower premium while increasing your coverage.

Factors that Affect Your Car Insurance Rates

2006-11-20T00:09:00.000-08:00

1.Factors you CAN’T change that impact your auto insurance rates:

Your age - Dick Clark and Sophia Loren notwithstanding, aging is unavoidable. And while you may be a mature-looking teen or a youthful octogenarian, the oldest and the youngest drivers are far more likely to have accidents.

Gender - Whether it’s the mothering instinct or fewer NASCAR fantasies, women statistically make safer drivers.

Marital Status - Ok, you can change this, but there have been no reports of people marrying simply to lower their insurance rates.

2.Factors you CAN change that impact your auto insurance rates:

Geography - Where you live matters. For instance, those living in rural America are far less likely to have a collision or a stolen car than those living in a city. But, sometimes even just moving across the street can change your rate.

Driving violations - Speeding tickets, running red lights, failure to yield, etc. all count toward your auto insurance rate.

Your vehicle - If you must have that cherry red Corvette or the Ferrari Testarossa, be prepared to pay for it. Your insurance premiums will be higher.

Accident claims - While you can’t change the past, keeping your slate clean and free of accidents will hold you in better stead than lots of fender benders.

Credit rating - That’s right — many insurance companies view having a poor, or even no credit history as suggestive of higher risk.

Occupation - A little easier said than done. Believe it or not, insurers have found correlation between your occupation and risk. Makes sense that the pizza delivery guy could be a higher risk!

3.Other factors that go into determining premiums:

Miles driven per year
Distance to work
Occupation
Years of driving experience
Business use of the vehicle
Whether or not you currently have auto insurance
Theft protection devices (often results in discounts)
Multiple cars and drivers (another opportunity for discounts)

10 Tips to Help You Save on Car Insurance

2006-11-20T00:05:00.000-08:00

Most people complain about the cost of their auto insurance--hardly surprising, given that a typical policy costs at least several hundred dollars a year. Depending on your age, driving record, and other factors, your annual premium can be significantly more than that. So how can you lower your premium and save yourself money?

If you own a car and drive it, going without insurance is generally not an option. In most states, you are required by law to purchase a minimum amount of liability coverage. And you should probably have more than just the bare minimum if you want to provide yourself with adequate protection. There are steps you can take, however, to reduce your auto insurance costs without having to cancel your policy. Some or all of these steps may be appropriate for you, depending on your circumstances.

Specific ways to save money on auto insurance:

1. Shop around.

One of your first steps should be to shop around. A particularly good time to investigate your alternatives is when your current policy is about to be up for renewal, especially if you find that your premium has gone up. You may be surprised to learn that auto insurance premiums for the exact same coverage on the same car can vary widely (by hundreds of dollars) between different insurers, even in states that regulate auto insurance rates.

2. Increase your deductible.

For many people, raising the deductible on their auto insurance is a good way to cut the cost of the policy. Sometimes you can reduce your annual premium by 10 percent or more if you increase your deductible from, say, $250 to $500. If you do this, however, make sure you have the financial resources to handle the larger deductible when the time comes.

3. Keep an eye on your credit report.

Your credit history is an important factor for most auto insurance companies. Many studies have shown a correlation between your credit history and the risk to an insurance company. Paying your bills on time and maintaining a good credit history will allow you to enjoy lower auto insurance rates.

4. Drive less.

If you drive less than a certain number of miles in a year (e.g., 7,500), you may qualify for a low-mileage discount. If your insurer offers this discount, try to limit your driving as much as possible. If you commute to work, use public transportation instead of driving. When you go away on vacation, fly or take the train.

5. Don't use your car for business purposes.

Since work-related driving generally subjects you to higher premiums than pleasure driving, it may be in your best interest to stop using your car for business purposes.

6. Drive more safely.

You may be eligible for a price break on your policy if you maintain a clean driving record for a specified period (usually three years). A clean driving record generally means no accidents, moving violations, drunk driving convictions, etc., during that period. The best way to qualify for the applicable discount is to drive carefully and defensively at all times.

7. Buy a low-profile car.

Cars are rated on a risk scale for auto insurance purposes. In general, sports cars and other high-performance, flashy vehicles are classified as higher risks because they are common targets for thieves and vandals, and because statistically, the people who own them tend to drive more recklessly. If you own such a vehicle, you will likely pay a higher premium than if you owned a station wagon, sedan, or other low-risk vehicle.

8. Move.

If you live in a rural community with little crime and traffic congestion, your premium will generally be lower than if you live in an urban area where your car is more likely to be stolen, vandalized, or involved in an accident. Granted, you shouldn't move just to cut your auto insurance costs. However, this may be one of many factors in your decision if you're thinking about relocating from the country to the city.

9. Keep your car in a garage.

Cars parked in garages are less likely to be stolen, vandalized, or struck by other vehicles. Using a garage to store your car may entitle you to a slight premium reduction.

10. Have safety/anti-theft devices installed.

You may receive discounts on your insurance if your car is equipped with one or more of the following options: anti-lock brakes, automatic seat belts, and airbags. Similarly, anti-theft devices such as car alarms and tracking systems (e.g., Lojack) may also get you a discount because they reduce the chances of your car being stolen or vandalized.

11. Inquire about multifamily/multipolicy discounts.

You may receive a discount from your insurance company if you buy more than one type of insurance through that same company (e.g., auto and homeowner's). A discount may also apply to your auto insurance if you insure multiple cars under the same policy or with the same company.

12. Other discounts

Other discounts may be available if you meet certain criteria. Examples may include discounts for taking a defensive driving course, being a AAA member or staying with the same auto insurance company for a number of years. These discounts vary by company.