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Let’s face it. Who doesn’t like saving time and money? While it may seem hard to do when you are paying for both auto and home insurance, there are ways to simplify and save. Here are a few ideas!

Digital ID Cards

You can do pretty much anything from your smartphone these days — including providing proof of insurance. More than half of states now accept digital forms of your insurance ID cards, via your smartphone. This means no more waiting for a new card to be sent to you or having to worry about accidentally carrying the expired version.

These are the states that accept digital insurance ID cards.

Usage Based Auto Insurance

Usage based insurance is just what it sounds like. Basically, your insurance premium is based on how you drive.

Here’s how it works:

You’ll need to install a telematics device provided by your insurance company. Your driving is then tracked through the telematics device and immediately sent to your insurance company.

Are you a good driver? Would you be willing to have a device track your driving behavior if it helped save you money?

If you answered yes to both of these questions, than usage based insurance could be a great option for you to lower insurance premiums.

It’s important to know that carriers typically give you a discount for installing this device, but your rates are subject to go up or down (based on your driving) after the data collection period — usually one term (6 months).

Go green to save green

You can also save money by getting a green home insurance policy. If your home is Green certified (by LEED), it could qualify you for discounts — up to 5% or more in savings!

Do you have or are considering solar panels, wind or geothermal power in your home?  If so, it’s time to look for a discount! Helping the environment in conjunction with saving money is pretty cool.

And when you’re on the road, driving a hybrid or an electric car can also save you on insurance.

Many insurance companies consider people who own these types of cars to be less of a risk, so there’s a good chance your premium won’t be as high as if you were to drive a traditional car instead. Plus, feel rewarded for helping out our precious environment.

Driving these types of vehicles on average saves you up to 10% on your premium!

As you can see, there are some great ways to save time and money on your auto and home insurance policies. We all know that time and money are both limited, so why not give one of these insurance trends a try?

Source: mint.intuit.com