money guidance and how to get rich_34

_{One simple thing you can do is increase the amount of your deductible.}

_{The lower your deductible, the higher your premiums. Ask yourself}

_{how likely you are to incur expenses, and how often that might occur.}

_{Compare that with the extra amount you're paying on your policy. For}

_{many people, it makes sense to carry a deductible of about $500 and}

_{pay lower premiums. Hiking a deductible from $200 to $500 can sometimes}

_{save you 15-30%.}

_{Another option is to make sure you're not over-insuring your car. If}

_{you're driving an old clunker, you may not want to bother with collision}

_{and comprehensive coverage on it. Cars worth less than $1,000}

_{are often not worth repairing. If you have an accident where the cost}

_{to repair the car exceeds its fair value, the insurance company will usually}

_{opt to "total" the car. That means your car is labeled a "total loss"}

_{and the insurance company is only obligated to pay you the "Blue}

_{Book" value minus your deductible, rather than paying the higher}

_{amount necessary to fix the car. They also will no longer insure the}

_{car, so you'll be left looking for a new set of wheels.}

_{Many insurers will give you a significant discount (up to 10%) if you}

_{hold more than one policy with them. So, look into buying both auto}

_{and home insurance from the same insurer. Whichever company you}

_{choose, make sure you investigate all possible discounts. Some insurers}

_{will knock off a few dollars for safety devices such as airbags}

_{or anti-theft devices such as passive engine disablers.}

_{too. Most policies, for a few dollars per month, will pay for a rental}

_{car should your car be damaged and unusable. This can be a big savings,}

_{so it's something to think about. Something else to include is coverage}

_{that protects you if an uninsured or underinsured motorist hits}

_{you. (According to some experts, as many as half or more of all motorists}

_{fall into these categories.) Most policies offer a degree of coverage}

_{in this area, but it might not be as much as you need or want.}

_{And finally, do some comparison-shopping! Don't assume that the price}

_{differences among various insurers are small, because they're often not.}

_{Hathaway, you may be in luck. Berkshire Hathaway owns car insurer}

_{GEICO and offers discounts in the neighborhood of 8% to shareholders.}

_{GEICO also offers discounts to members of various organizations}

_{too. Call GEICO at 800-861-8380 for more information.}