Numerous policies: Combining all your policies with one insurer is not necessarily cheaper but you can get discounts if you pool them. Deductibles: Check these to see if they are too low. If raised, you can cut your costs. Collectibles: Few policies allow unlimited coverage of home contents - the norm is to set a maximum for different classes of contents. Separate insurance for that Ming vase may be necessary. Working at home: Home-owner policies do not generally cover a home business, so home workers are typically underinsured. Travel insurance: May be waste of money when a comprehensive health policy covers this anyway. Baggage insurance, additionally, is generally covered by home insurance. Life insurance: Is important if you are the only salary earner in your family, so long as you do not make the mistake of buying credit life insurance. Replacement-cost coverage: While more expensive than cash policies, this works to replace an item with one of similar quality regardless of depreciation. Computer insurance: Basic equipment is usually covered in standard home insurance. An endorsement can provide additional coverage for more sophisticated equipment. High-income bracket: If you have started to earn more, it makes sense to increase all your insurance. An 'umbrella' policy can cover you for extreme financial loss of any kind. College kids: Are often underinsured, which is unfortunate considering the increased likelihood of theft and breakage at student properties. Student insurance is cheap or, alternatively, they can be put on their parents' policy. Graphic: trigagwz
