Ask and You May Receive

One easy way to lower your auto or homeowners insurance premiums is simply to ask. Most insurers offer special discounts and many continuously introduce new discount programs.

Some insurance companies give discounts to customers with college or advanced degrees. Or if you change jobs and drive less, you may qualify for lower rates simply because you put fewer miles on the car per year. Also consider dropping extras like rental car reimbursement coverage, which pays for a rental car if your car is in the shop as the result of an accident, or towing insurance, which covers the cost of a tow. The odds of needing either are relatively slim, and a few years of premiums saved could cover the cost if you do run into that situation later.

Homeowner policy discounts are often given for home improvements, such as installing impact resistant roofing, re-piping or rewiring the house, or adding prevention device sensors, such as smoke, water leak or natural gas detectors. Also, many insurers are now offering discounts to policyholders who have been claim-free for a number of years.

Take the time to ask your insurance agent for ways to reduce the cost of your policy; he or she will immediately get the subtle hint that you could take your business elsewhere... and should work hard to help you lower your total cost.