Washington D.C. -- Whenever we're in a car accident, or when something unforeseen happens to our house, we rely on insurance money to help get us through. But a new consumer investigation shows that insurance companies are relying on us to make big profits!

Today, the Consumer Federation of America (CFA) released a report that details how the insurance industry systematically overcharges consumers while underpaying their claims. According to the CFA's calculations, the average household is overcharged almost $220 a year for home and auto insurance.

While the insurance industry disputes the study, the CFA says there are things you could do to make sure you get the most from your insurance:

1. If possible, do not do business with a company that has a history of anti-consumer behavior.

Consumers can contact their state insurance departments to get information on companies in their areas that have sharply raised rates and cut back coverage in recent years.

2. Carefully review policies at purchase or renewal to figure out if high out-of-pocket costs will be imposed.

Specifically, look out for separate deductibles for wind damage, anti-concurrent-causation clauses, mold exclusions, limits on replacement costs and other coverage restrictions.

3. Consumers who live away from coastal areas should definitely shop around.

Because insurance companies are overcapitalized, they are looking for new business in lower risk areas. Rate decreases and better coverage are possible.

4. Demand thorough insight of insurer actions by state regulators.

If you have a problem with rates or coverage, file an immediate complaint in writing with your state insurance agency and follow up with a response. Consumers should also contact insurance regulators to find out what they are doing to require that their rates are fair and reasonable, and that insurers are not unjustifiably withdrawing coverage.

For more information on this study, you can go to the following website:

http://www.consumerfed.org/pdfs/2008_INSURANCE_RELEASE_FINAL.pdf