Insurance can be a fiscal lifesaver in the event of a disaster. There are different types of insurance, and Farmingdale businesses can have you covered. Cost-cutting can also be important for people when it comes to insurance. So here are five major types of insurance, how to lower costs, and where to go for coverage. 

• Auto
• Health
• Life
• Homeowners
• Business

• Take a defensive driving course: Taking a defensive driving course can generally knock up to 10% off your auto insurance rate for three years. The course can be taken online, too, so people can start or stop the course at any time from the comfort of home. While the course takes hours to complete, it’s the easiest way to lower insurance costs. And the knowledge you pick up could help save your life, too.

• Increase your deductible: People can lower their insurance rates by taking on higher out-of-pocket costs; in other words, increasing your deductible. The higher one’s deductible, the less they will pay for coverage up front. The deductible vs. insurance rate balance is about managing risk - people who drive less are less likely to get involved in crashes, so a higher deductible is less risky. People should check out what the rates are and verify them with their insurance carriers.

• Bundle your policies: If you purchase your home and auto insurance from the same company, that’s considered bundling. Most companies offer discounts through lower rates when people bundle their home and auto insurance. Companies get more of a customer’s business while the customer saves through the discount.

• Explore your payment options: Major insurers provide paid-in-full discounts, where if a customer makes an annual payment or divides a payment into two six-month payments, they can get a percentage off their premiums. Most people can save up to 10% by doing this, and they can get it out of the way in one or two fell swoops. While this can be costly, people who can afford to pay in full can save money in the long run.

• Drive safer and save: People who pride themselves on being defensive drivers might have a vested interest in this option. Major insurance companies offer variations on safe driving discounts. For example, Allstate offers Drivewise, while State Farm’s is Drive Safe & Save. Customers can download an app that will track their driving habits and reward those who avoid violations, accidents, speeding, brake jamming and more. People who drive safely can get higher discounts and save more money.

• Marcus Family Agency Allstate Insurance Co. (address: 199F Merritts Road, Farmingdale)
• Brooks Waterburn Corp. (address: 1105 Broadhollow Road, Farmingdale)
• Joseph Benincasa State Farm Agency (address: 54 Willow Park Center, Farmingdale)
• Joseph Minieri Life Insurance / Health Insurance (address: 1393 Veterans Memorial Highway, Hauppauge)
• Adonis Agency (address: 826 Conklin Street, Farmingdale)
• Allstate Insurance Company (address: 222 Main St., Farmingdale)
• Bradley & Parker, Inc. (address: 320 S. Service Road, Melville)
• Dan Barden, USI Insurance Services (address: 285 Eastern Parkway, 38, Farmingdale)
• New York Life - Don Amato (address: 1660 Walt Whitman Road, Melville)
• State Farm Insurance - Bill McLear Jr. (address: 54 Motor Ave., Farmingdale)
• Wharton B. Allen Agency Inc. (address: 348 Main St., POB 400, Farmingdale)
• New York Life - Michael Herrscher (address: 1660 Walt Whitman Road, Melville)
• Florella H. Adams - Medicare Health Insurance (address: Senior Services, 532 Broadhollow Road, Suite 106, Melville)