(Image credit: Getty Images) The amount insurers pay out on home and car insurance claims has plummeted while the cost of your premiums have soared, according to a recent analysis by the Vanderbilt Policy Accelerator. At a time when insurance companies are warning of the need for further rate hikes amid worsening climate change and the rising cost of home and auto repairs, this study says that they may already be charging most Americans far more than they need to remain solvent. How did the study determine what portion of the premiums Americans pay was excessive? Where is all that extra money going if it's not going to claims? Most importantly, what can you do to cut your home and auto premiums at a time when all of your other bills are going up as well? Here's what you need to know. From just $107.88 $24.99 for Kiplinger Personal Finance Become a smarter, better informed investor.…