How to reduce the chance of hash collisions?

Obviously there is a chance of hash collisions, so what is the best way of reducing that risk? If I also calculate the (e.g.) MD-5 hash of the block, and use the combination (SHA-256, MD-5) as the key, is the chance of a collision about the same as some 384-bit hash function, or is it a little bit better because I’m using different hash functions?
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