How to save on insurance As much as possible, if it can be done, you must seize every opportunity for you to save on insurance. Here are some tips you can follow. Your home insurance: - If you think about it, you can actually save up to several hundred dollars if you buy insurance from a low-price but licensed insurer. Compare prices of the insurance departments in your state and get the lowest price but most practical company. - Negotiate a lower selling price with a broker who works for you and not as the mediator to the seller. There may be a conflict of interest if there are too many people involved. So negotiate with just the broker. Your life insurance: - If you prefer just insurance protection, and not a savings and investment life policy, you can just buy term life insurance. 3 - If you would like to purchase whole life insurance, then hold on to one up to 15 years. If you cancel these policies after only two years of having them in your name it will mean double the insurance costs. - Check the public library about life insurance in your state and get one that suits your personal savings.