Insurance is necessary for those, just in case, problems. Some types give out benefits on a regular basis. For example, dental insurance may cover biannual cleanings, even though cleanings are not unexpected. Other types are for those unexpected events, such as car insurance that is used in the case of an accident. There are so many different types of insurance that you could have including but not limited to:

• Health
• Life
• auto
• dental
• vision
• renters
• homeowner’s
• boat
• mortgage
• etc.

More than likely, you have a handful of these types, and maybe others. The problem is the cost of insurance. In order for an insurance company to agree to insure you, you have to agree to pay premiums. Some premiums are very high, often thousands of dollars for health insurance, and other’s are minimal, such as renters insurance. How can you manage all of these premiums without breaking the bank?

First, get as much free coverage as possible. You can get a lot if insurance for free or close to it through your employer. Not all employers offer insurance benefits, and most require you to be a full time worker, but it shouldn’t be overlooked. For example, you can get a group rate of health insurance and they may pay for half or more of the premiums. Some pay for all the premiums. They may also offer life insurance, vision insurance, and dental insurance.

Next, when you get a policy for any kind of insurance, get only the coverage you need. It’s easy to get talked into being over-insured by an agent. Instead of taking their word for it, learn about what your coverage options are and how much you should need. Build a policy that maintains a good price for you.

You can further decrease premiums with discounts for several types of insurance. For example, auto insurance providers often give you a discount if you take a defensive driver course, have multiple policies with them, have safety features on your car, etc. If you can get multiple discounts, they can add together for a lot of savings.

Cutting your costs involves taking each policy one at a time, and bringing down the cost. Never assume you’re not paying too much. If you can knock even just a few dollars off each policy if you have 5 policies, you could save a few hundred dollars a year. Do your homework before you buy and let it go.