From Kiplinger · · 1m 40s
Car Insurance Review: 8 Things to Check to Save Money
Check these 8 steps to save on car insurance without filing a claim.
In brief
Check these 8 steps to save on car insurance without filing a claim. Reviewing car insurance policy details can save drivers up to $461 annually by adjusting coverage limits, deductibles, and discounts. Originally reported by Kiplinger.
Quick answers
- When was your last car insurance check?
- Most drivers renew policies without reviewing coverage, risking overpayment for months or years.
- Do you need collision coverage?
- Older vehicles may not need collision insurance, but newer or expensive cars could benefit from it.
- Are your liability limits enough?
- Most states require $15,000 to $50,000 per person liability coverage, but crashes can cost up to $2,050,000.
- Could adjusting your deductible save money?
- Increasing your deductible lowers premiums, but you'll pay more out of pocket if you file a claim.
- Have your driving habits changed?
- Working from home or reduced mileage may qualify you for low-mileage discounts or usage-based programs.
When was your last car insurance check?
Most drivers renew policies without reviewing coverage, risking overpayment for months or years.
Do you need collision coverage?
Older vehicles may not need collision insurance, but newer or expensive cars could benefit from it.
Are your liability limits enough?
Most states require $15,000 to $50,000 per person liability coverage, but crashes can cost up to $2,050,000.
Could adjusting your deductible save money?
Increasing your deductible lowers premiums, but you'll pay more out of pocket if you file a claim.
Have your driving habits changed?
Working from home or reduced mileage may qualify you for low-mileage discounts or usage-based programs.
Is everyone on your policy still valid?
New drivers, moves, or children leaving home may require policy updates to avoid claim denials.
Are you missing discounts?
Bundling policies, defensive driving courses, vehicle safety features, and student discounts can lower premiums.
Have you had a life event this year?
Moving, getting a new job, or a teenager starting to drive may impact your insurance needs.
Have you compared quotes?
Drivers who switched insurers saved a median of $461 per year according to Consumer Reports.
What to do next?
Review policy details, compare at least three insurers, and adjust coverage based on your needs.
The one thing
Reviewing car insurance policy details can save drivers up to $461 annually by adjusting coverage limits, deductibles, and discounts.
