Family Health Travel Insurance
This can vary wildly in what it covers, but is essentially insurance to cover any situations in which you or your family needs health care while traveling. Some insurance policies will cover the expense to return home, for instance, for treatment.

It is crucial you check with your own insurance company first to see what coverage you get and where while traveling. Be sure to specifically ask what is excluded from your existing plan (for instance, injuries during sports activities often times are not. You also want to ask about exclusions for any potential travel insurance plan you are considering. You are most likely to need this insurance if you will travel abroad with the family.

Trip Cancellation Family Travel Insurance
Anyone with kids knows that anything can happen any time, and probably will if you have plans and cash attached to it. Trip cancellation insurance is often times inexpensive, and this only covers costs for plane tickets, non-refundable reservations, and similar items if you must cancel your trip.

Before you buy this, check first to see if one of your credit cards already offers this automatically when you make a purchase for, say, a plane ticket. Also consider whether you are really going to have any expenses that are non-refundable. If you’re taking a road trip and booking a typical hotel room, you may only lose a first night’s stay by cancelling last-minute.

Be sure to check first about what qualified as a justified cancellation to get reimbursement.

Trip Loss Family Travel Insurance
Other travel insurance tends to cover incidents that happen during your travels, such as lost luggage and theft of items while traveling. This insurance is probably more needed in a situation where your family must travel with high-end items.

Be sure you scrutinize any plan to see precisely what is covered, however. Some items must be “scheduled” or they will either not be covered or be covered at a very low dollar amount. Jewelry is a classic example of this.

Also be sure you check first with your existing renter’s insurance or homeowner’s insurance policy. Sometimes, certain items are covered up to certain dollar amounts, so a separate policy might not even be necessary.

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Just like auto insurance, policies have deductibles, and the same rule of thumb applies–carry the highest deductible you can afford. The higher your deductible, the more premium credit you can expect to receive from your insurance company. Your savings could reach 25% by increasing the deductible from $100 to $1000.
Improve Your Home Security

Most insurance companies offer discounts for smoke detectors, burglar alarms, dead bolts, fire extinguishers, and Neighborhood Watch Areas. Homes with a fire and burglar alarm system hooked up to a third-party monitoring company receive higher discounts than homes with local bell alarms.
Consolidate Policies

Insuring two or more vehicles with the same insurance company can save you 10 – 15% on your premiums. If you cover your homeowners insurance and auto insurance together, you can reduce your premiums by another 10 – 15%.

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Construction Type

Before buying a home, consider its construction type, such as frame or concrete block and steel (CBS). A wood frame house typically costs more to insure than one built mostly of concrete.
Verify Distance To Fire Stations And Windstorm Areas

If you live in the country, you’ll probably pay higher rates for your insurance than if you lived in town. Why? It’s because of the longer distance to your local fire station. If you live more than 5 miles from the nearest fire station, and more than 1,000 feet from a fire hydrant, you will most likely pay a higher premium.

Before purchasing your home, you may want to get a quote for both and flood insurance. Insurance companies may not offer you windstorm or flood coverage, depending upon the area in which you live. If your home is in a hurricane prone area and your insurance company offers windstorm coverage, then installing approved hurricane shutters should result in a premium discount.
Claims Free Record And Renewal Discounts

If you have not had a claim under your policy during the past 3 – 5 consecutive years, you could receive up to a 15% discount, depending on the insurance company. Plus, most companies will discount your premium if your policy has been in force for 3 straight years.
Mortgage Free Discounts

Some insurance companies target who have paid off their mortgage and offer them premium discounts of up to 5%.
New And Renovated Home Discounts

A majority of insurance companies offer a discount for new homes, and you may qualify if your home was built in the last 10 – 15 years. Also, a recently renovated home costs less to insure, so find out when the last major electrical, heating and plumbing update was completed on the home.
Non-Smokers And Early Retiree Discounts

Some companies offer a non-smokers discount of up to 15% to qualified . To qualify, you must be a non-smoker and you cannot permit smoking in your home by anyone. Retirees or senior citizens are usually offered discounts because insurance companies believe they are home more often and are therefore better able to protect their home against fire and burglary.
Live-In House Keeper

Some insurers offer up to a 2% premium credit if you have a live-in employee as they feel it could reduce the likelihood of burglary.
Conclusion

After reviewing the foregoing savings tips, you may think that if you added up all your credits you could receive a 70 – 90% reduction in your premiums. Unfortunately, it doesn’t work that way. Certain safety or other measures you take may qualify you for being placed with the “preferred” company of a particular insurance group. This “preferred” company will be able to give you more premium credits than a standard company is able to.

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