How many ways is there to save money on your insurance? It's one of those things we all have (or should have), yet we probably don't spend the amount of time we should getting the best rate. If you do spend a little bit of time doing some research, you will find that you can save a lot more money than you might have expected.

Okay, here we go. You may have heard of some of these, but hopefully this is a reminder to you or you may pick up something you never thought of. Give some of these some thought and you may find yourself with some extra money at the end of the month.

#1 The Multiple Policy Discount

This is one that many of us kind of forget about. If you tie your home owners or renters insurance in with your auto insurance, you will most likely get a discount and a pretty good one at that. Do yourself a favor and investigate this avenue.

#2 Do your research BEFORE you buy

Another no brainer. Let's say you have narrowed it down to 3 choices: the Corvette, the Ford Escort, and the Honda Civic. Call you guy and ask him the rates on all three vehicles. If one is way more expensive then you've got some decisions to make.

#3 'My Momma told me, you better shop around.'

There is no excuse not to do this with all the info we can get on the internet. You can get 10 quotes in 24 hours by filling out 1 simple form. It's amazing really. Use these tools to save yourself some dough.

#4 Gamble with the high deductible

If your car is really old and is not worth that much to replace, you probably don't really need the collision insurance. Now, it the car is a few years old, that's where it gets tricky. Again, check sites like Kelley Blue Book to compare how much your car is worth with what the rates will be. It's a delicate dance, but it could save you some money in the long run.

#5 Skip the collision coverage....if you dare

No, seriously, if you have a car that is really old or does not have a very expensive replacement cost then you can go with out it. You could use the money you would save to buy a new car.

It comes down to research and review. Know what you are buying and know your options. Knowledge is power. Use it.