‘Money: It's Personal' — Tips for finding best insurance rates

By Ivan Herrera - Digital Journalist, Valerie Gomez - Video Editor

SAN ANTONIO - Insurance is what we rely on to cover some of our most-valued possessions, such as our car and our home, but finding the best rate can sometimes feel overwhelming.

Insurance companies are a dime a dozen, so choosing the right company with the right coverage can save you a lot of time and money if you ever find yourself needing to file a claim.

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So how can you find the best rates and coverage at a price you can afford?

First, compare quotes and coverage from several companies. Make a list of what each one offers and the price per month to see which insurance plan is best for your home and/or auto.

If you have safety features in your home, such as an alarm or fire detection system, make sure to let the insurance company know when you're looking for coverage. Some companies may offer you discounts for having safety features in your home or in your car.

You may also be able to qualify for a discount based on your age, driving record or your grades, if you attend school.

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Check if the insurer offers lower rates for having more than one policy on your account.

Lastly, a higher deductible can save you money on your monthly premium. If you have a lower deductible, however, you'll have to pay less out of your own pocket if you ever file a claim.

For more insurance purchasing tips, click here.

“Money: It’s Personal” is a series on KSAT’s News at 9 that breaks down personal finance topics. If you have a suggestion or question on the types of topics you'd like us to explain, click here.

For more stories from KSAT's News at 9, visit KSAT.com/newsat9.

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