How can policyholders lower their insurance premiums without reducing coverage?

Increasing the deductible or bundling multiple policies with one insurer effectively lowers insurance premiums while maintaining the same coverage levels. When policyholders choose a higher deductible, they agree to pay more out-of-pocket in case of a claim. This shift reduces the insurer's risk, which often results in lower premiums. Additionally, bundling multiple insurance products—such as homeowner's insurance and auto insurance—can lead to significant discounts offered by insurers to retain customers across different types of coverage. Both strategies allow policyholders to manage costs without sacrificing essential coverage.