Inflation continues to shrink Americans’ wallets and many people fear things are going to get worse before they get better. To brace for more inflation, Americans are looking for creative ways to save money… and fast. One thing many Americans overlook is the substantial savings insurance adjustments can make. By reviewing insurance coverages, Americans can save hundreds of dollars this year.

Here’s how:

Auto Insurance Deals

Sometimes the best thing to do is simply to ask. Many auto insurance providers offer discounts to drivers for being accident-free or paying premiums in full. Drivers who take defensive driving classes often receive five to twenty percent off their auto insurance premiums. Policyholders shouldn’t hesitate to call their insurance providers to learn if there are any discounts that can be applied to their account.

Switch Auto Insurance

Ninety-two percent of policyholders who switch auto insurance companies save money. However, one in three drivers never shop around for auto insurance quotes. That’s a lot of people losing hundreds of dollars a year by overpaying for car coverage. If you don’t want to call insurers directly for quotes, consider SmartFinancial, an online insurance marketplace, to compare auto insurance rates in seconds.

Raise Deductibles

Policyholders that raise deductibles can often reduce their yearly auto insurance costs by fifteen to forty percent. Each person has a unique approach to insurance deductibles. Some prefer a lower deductible to avoid any costly or life-altering financial surprises, should misfortune occur. However, statistically you are more likely to overpay during the life of a policy, by keeping a very low deductible. Instead, increase the deductible to an amount that you are comfortable parting ways with, and keep that equal amount in a separate savings account, to utilize as your deductible when needed.

Cell Phone Protection

Many cell phone service providers offer accident protection at an additional monthly or yearly cost. Yet, many credit card companies, such as Chase and American Express, provide equal or better coverage at no additional cost. Free cell phone protection puts more money in Americans’ pockets. Contact your credit card provider to find out if they offer this type of service.

Home-Buying Discount

On the homeowner’s front, first-time homeowners usually pay the highest rates, but if they had previous rental insurance and no claims, they could request up to a twenty-five percent discount when they buy a home.

Bundle Insurance

Practically every major insurance company, including Allstate, provide discounts for policyholders who bundle insurance coverages. Discounts range from five to twenty five percent, depending on the policies, coverages, and the insurer. Whether trying to save extra cash for a summer escape or looking for a creative way to cut expenses, Americans should regularly review their coverages, price compare policies, and contact their insurers to discover how to save more money during this financially challenging time.