SEATTLE -- Are you paying too much for insurance? Here's how to find out:

Check to see what you're insuring. You want coverage for your home and other structures on your property -- but not the value of the land.

"The land isn't part of the replacement amount," said Hillary Young, with the state Insurance Commissioner's office. "A lot of people don't realize that when they initially set up their policy."

You need to figure out what it would cost - at today's prices - to replace your house if it were totally destroyed.

Another way to save, make sure you're get all the discounts you're entitled to.

"Find out if you combined your auto on the same policy if you could save more; if you installed a security system or haven't reported you have a security system," she said.

You might also be able to get a discount if you're 55 or older. It's worth checking.

A simple way to save money is to raise a low deductible. If it's $250, you may want to boost it to $500 or $1,000. Just make you're able to afford your deductible if something should happen.

"If something really bad happened, could you afford to pay $1,000 out of pocket? If the answer is yes, it's gonna save you money."

If not, maybe you should leave things along.

More Information:

Resolve to get smart about insurance in 2009