Save on Insurance

Think about raising your deductible from $500 to $1,000 to save up to 15 percent on a homeowner’s premium.

Inventory your possessions annually and adjust your coverage. If you gave away expensive jewelry, remove that rider, which typically runs $1.75 to $2 in premiums per $100 in annual coverage.

Long-term policy holders may earn a cut in premiums of as much as 10 percent. But that discount may come after years of increases, so check if you might do better elsewhere.

Security improvements such as an alarm or fire sprinkler system may cut your homeowner’s insurance cost.

Standard amounts of insurance are worth checking out. For example, a $250,000 life insurance policy may have a lower premium than a $200,000 policy simply because the company’s standard policy is $250,000.

Consider ditching a second or third car—along with 33 to 40 percent of your premium.

A safe-driving course may get you auto insurance discounts of up to 10 percent. Washington, D.C., and 36 states mandate discounts for people who take a course, which usually costs between $10 and $30. Ask your agent—restrictions may apply.

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