Valentine

Valentine's Day is a great time to show your significant other just how much you care. This usually comes down to exchanging gifts of a personal kind, namely jewelry, candy and flowers. But if you're scrambling to come up with enough money to spend on your Valentine, then you could be in for a hellish experience.

The National Retail Federation indicated Americans will spend roughly $142 per person this Valentine's Day, with men projected to spend almost double compared to women. With so much money​ spent, it's necessary to look at ways to find the best deals on certain gifts so you're not breaking the bank.

"It's great to see consumers coming out of their shell this year, looking to spend discretionary budgets on those they love once again, though I fully expect many to continue to look for ways to cut costs where they can," said Pam Goodfellow, principal analyst at Prosper Insights and Analytics who conducted the NRF study. "While many will splurge, some will still look for simple and affordable ways to show their appreciation for friends and family and celebrate in a way they are most comfortable with."

One of the best ways to save on expenditures is to revisit your auto insurance plan - not to mention, with the money left over from insurance discounts, you can make sure you're getting the best gifts for your Valentine.

Here are some of the top discounts that can give you the most cash back:

Bundled policies
One of the best things about having adequate insurance coverage is that you don't necessarily have to fork over a lot of money to get what you need. While being overinsured might not be the best financial strategy, it could come in handy to have several different types of insurance with one company. That's because providers offer discounts for loyal customers that bundle together their policies into one package.

This not only makes it easier for customers to pay one price instead of several, but it's also more efficient for the insurance company to keep track of claims and its large number of customers. As such, you can save money on each bundled policy, which in total can add up to hundreds of dollars each year.

Anti-theft
With technology keeping new car models on the forefront of safety, manufacturers now implement a number of additional features that make vehicles all the more secure while on the road. For instance, etched vehicle identification numbers on windshields can help police track down stolen cars much more quickly. Further, new alarm systems will lock up the engine if anyone tries to start your car without your personalized key.

These advancements minimize the chance of your car being stolen, which means your insurance company won't have to pay out exorbitant costs to try and recover your car. That's why these anti-theft systems are in high demand by drivers and are accompanied by a discount from insurers.

Mileage
The more you drive, the more you'll spend on gas and the more likely you are to get into an accident. These are just simple facts that hold true for every driver despite how risk-averse you may be. The longer you are on the road, the higher your chances of a breakdown or wreck, which is why those who use their cars more often typically have higher insurance rates.

Insurers have begun offering discounts for people who drive less because mileage and risk are correlated. This particularly benefits you if you live in a city and use public transportation or carpool with others often. The less you drive your own vehicle each month means more savings from your insurance company.

Multiple cars
If you have a family, then you'll likely have several different cars under one policy. Though it depends on the driving records of the other persons in your family, your collective rate could be lower at the end of the year if everyone is insured by the same plan.

That's because insurance companies want their customers to take out more policies and insure more vehicles. Though you may think it's expensive to have three or four cars and the requisite insurance, by bundling everything together into one package, you can save money as a family.

With all the money left over from the above car insurance discounts, you can spend a little more this Valentine's day, making the holiday all the more cheerful and memorable.

Speak with your insurance agent to find additional ways to get the most out of your insurance without having to pay extra fees and surcharges.

CoverHound can help you find the best insurance quotes online with its easy-to-use search database filled with all the top insurers in the U.S.

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