Well, here's some good news: if you own any type of insurance, from home owner's to automobile to flight insurance, you probably have more coverage than you realize -- which can save you money if you take advantage of it.

For example, your home owner's insurance may provide coverage if your portable CD player is stolen from your car, or if you accidentally break someone's nose playing ball on the street. And certain types of auto insurance provide rental car coverage as well. So, take a careful look at all your current policies before buying additional insurance or increasing the coverage you already have.

Also, check out the types of insurance you get with your credit and charge cards. You may be pleasantly surprised to discover that as a card -- carrying consumer, you automatically receive additional perks, including insurance.

"At a time when consumers shop for value, a credit card is often one of the best deals around," said Larry Sharnak, Senior Vice President of American Express. "We provide benefits designed to take care of contingencies that may occur unexpectedly at home or away to help keep our cardmembers continuously satisfied with our services."

Some cards, like many of those from American Express, offer members several types of insurance coverage -- at no additional charge -- when they make their purchases with the card. These include:

• Buyer's Assurance, which extends the original manufacturer's warranty on selected items for an additional year.

• Purchase Protection, which safeguards merchandise against accidental damage and theft for 90 days from the date of purchase, up to $1,000 per occurrence.

• Car Rental Loss and Damage Insurance, which provides reimbursement for losses in excess of, and not covered by, other sources of insurance for loss and damage to your rental car.

• Travel Accident Insurance, which covers cardmembers for up to $100,000 or more for accidental death and injury.

Remember: a savvy consumer not only finds ways to save on daily purchases like groceries and dry cleaning, but on more difficult products like insurance. Before you invest in more insurance, take the time to find out how much coverage you already have. Call your insurance agent to clarify any wording in your policy that isn't clear. And don't forget to call your credit card companies -- if you're lucky, they've got you covered!(NAPSI)