To save money on insurance policy, you can shop around for the best rates and compare the prices of different policies, find multi-policy insurance packages, increase your deductibles, maintain a good credit score, ask for discounts, take advantage of telematics, choose a car with low insurance rates, consider usage-based insurance, use a high deductible health plan, choose the right amount of life insurance, reduce your home insurance costs, invest in safety devices, avoid making small claims, and review your policy annually.