By: Penny Hagerman

If you own both a home and a car, car and house insurance are necessary protections - ones you should budget for appropriately and never live without. It's often not until you really need them that you find out just how valuable they really are.

But why do you need car and house insurance anyway?

1. To protect you and your mortgage or loan company against financial loss in case of accident, injury or unforeseen circumstance. If someone whips in front of you during evening rush hour and you barrel into the back of his vehicle, your car insurance company will use the premiums you've paid in to restore both you and your vehicle, whether the damage is physical or mechanical. On the other hand, if a windstorm damages the roof on your home and you need to have it replaced, your house insurance company will be able to fund that project - and you'll keep a roof over your family's head.

2. To protect you from liability when others are harmed. If a friend or relative gets injured in the backseat of your car - or a visitor is hurt when he slips and falls in your driveway - your car or house insurance company will pick up the medical bills that result (up to the limits of your policies). This means you're protected; and so is everyone else who rides in your car or visits your home.

3. To guard your belongings against damage or theft. Whether your car is totaled in that late evening accident or your damaged roof leaks and ruins your possessions, car and house insurance will pay to repair or replace them...if you have adequate coverage.

Saving Money: It's Easier Than You Think

As you've probably heard, buying car and house insurance from the same insurer qualifies you for some pretty amazing discounts.

Why? Insurance companies like cross-selling more than one type of policy at a time because it increases their profits - and they pass those savings on to you. That means lower quotes and big savings on your car and house insurance premiums!

Other ways to maximize savings when you're shopping for car and house insurance include:

• Comparison shop, getting several quotes before settling on the right plans. This site can help you do that!
• Get educated. Use resources such as this Web site, your state insurance department or your local library to find out which coverage you need now.
• Guard your home against fire and water damage by upgrading your electrical and plumbing systems.
• Protect your car and house against theft by installing security alarms and other protective measures.
• Consider higher deductibles. Though most insurance companies recommend a $500-$1,000 deductible on car and house insurance, setting them higher could save you up to 50 percent or more.
• Stay with your insurer as long as possible. Once you've established a good payment record and proven financial responsibility and stability, you could be eligible for a significant discount.
• Maintain good credit. With a superior credit score, your annual premiums will likely be lower.

Preparation = Freedom

When you own both a home and a car, protection becomes twice as important. And the best way to free yourself, your lifestyle, your car and your home from danger or injury is by planning ahead with car and house insurance.

Start preparing now for a lifetime of freedom. With free car and house quotes and the right insurance coverage, there's no need to worry about the future. You'll know you're covered with us by your side - no matter what life brings your way.