Legally Mandated Insurance

Insurance is one of those monthly costs that cannot be avoided. Many types of insurance are legally mandated in order to operate a car or own a home. Since the costs cannot be cut out altogether, it is important to find ways to save on the insurance that is required.

Car insurance rates are based on a variety of factors, some of which can help in lowering costs. Having a clean driving history is one way to lower car insurance rates. If this is not the case, many companies offer discounts for those who take defensive or safe driving courses through accepted programs such as AAA or a state sponsored class.

Home insurance is harder to save money on because many mortgage companies put it in with the general mortgage cost. When choosing a home insurance company looks for a company that also offers car insurance. Bundling the different types of insurance often lowers costs. Home insurance companies also offer discounts for installing an alarm system.